Mitsubishi Rayon Unit Can't Nix $35M Glass Cartel Fine

Law360, New York (September 15, 2011, 1:36 PM EDT) -- A European Union court refused Thursday to trim Lucite International Ltd.'s €25 million ($34.7 million) fine for an acrylic glass cartel despite the Mitsubishi Rayon Co. Ltd. unit's claim that it unknowingly inherited the cartel through a 1999 acquisition.

The EU's General Court ruled that the European Commission — which fined the British company as part of the €344.5 million in penalties handed down in 2006 against a slew of companies that allegedly fixed prices and shared information about their acrylic glass businesses — was neither...
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