EU Seeks Antitrust Damages From Elevator Cos.

Law360, New York (June 24, 2008, 12:00 AM EDT) -- Having already levied a €992 million fine against four elevator companies, the European Commission has sued them for damages, alleging that it was overcharged for elevators and escalators installed in EU buildings as a result of cartel activity by the firms.

The EC has filed the cases in Belgium's Tribunal de Commerce against ThyssenKrupp AG, Kone Corp., Schindler Holding AG and United Technologies Corp.'s Otis Elevator Co.

The four elevator companies were fined by EU antitrust authorities in 2007 for alleged anti-competitive behavior.

The total fine,...
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