Fines Trimmed In EU Haberdashery Cartel

Law360, New York (September 12, 2007, 12:00 AM EDT) -- A European high court on Wednesday snipped fines for two haberdashery companies by a total of €13 million for their involvement in fixing the markets for needles from 1994 to 1999.

Germany-based William Prym GmbH & Co. and its subsidiary Prym Consumer GmbH & Co. KG saw its fines cut by 10% because it had not fought European Union regulators on the charges of conspiracy to reduce competition in certain markets.

The European Court of First Instance said that the European Commission should have taken Prym's...
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