EU Court Backs €79M In Cartel Fines On Copper Cos.

Law360, New York (May 6, 2009, 12:00 AM EDT) -- A European court has upheld €79 million ($105 million) in fines against three alleged members of a copper tube cartel for fixing prices on copper tubes across Europe for more than a decade.

The Court of First Instance refused Wednesday to reduce the penalties assessed by European Union antitrust regulators in 2003 after the three producers appealed the fines, claiming they were ill-founded and excessive.

After initially announcing it had postponed the judgment, the court dismissed the appeals and confirmed the European Commission's original decision, Reuters...
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