Appeals Court Affirms Dismissal Of €100M Cartel Fine

Law360 (September 27, 2006, 12:00 AM EDT) -- An appeals court rejected Wednesday an attempt by the European Union’s antitrust authority to revive €101 million in fines against German banks accused of fixing prices for currency conversion.

The decision, handed down by the E.U.’s Court of First Instance in Luxembourg, affirmed a 2004 ruling that the European Commission failed to properly make a case and, at any rate, missed a deadline to fight the banks’ appeal.

The ruling was a boon for five German banks at the heart of the alleged scheme, but for...
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