EU High Court Backs $195M Elevator Cartel Fine For Kone

Law360, New York (October 24, 2013, 1:22 PM EDT) -- The European Union’s top court on Thursday upheld a nearly $200 million antitrust fine against Finnish elevator company Kone Oyj levied in 2007 after the company was found to have participated in a cartel that sought to allocate contracts in four EU member nations.

Kone was granted immunity under a so-called Leniency Notice from penalties related to cartel activities in Belgium and Luxembourg based on its cooperation with the bloc’s probe in those nations, but was ordered to pay 142 million euros ($195 million) for its...
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