Electric Cos. Fined By EU For Cartel Face Israeli Suit

Law360, New York (March 11, 2008, 12:00 AM EDT) -- Power customers in Israel have reportedly filed a class action against Mistubishi Electric Corp. and several other companies for participating in a cartel for electrical network equipment.

The defendants in the suit are the companies that were fined €750 million by the European Commission for the same actions, Dow Jones reported, citing a Mitsubishi press release. Altogether, the Israeli lawsuit involves 12 companies.

A spokesman for Mitsubishi Electric's U.S. office said he was unaware of the lawsuit. He directed questions to a representative at the company's...
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