EC Escapes Damages In Fight With Schneider Electric

Law360, New York (July 16, 2009, 2:26 PM EDT) -- Europe's highest court on Thursday annulled a lower court's decision that the European Commission must pay Schneider Electric SA damages in connection with its post-acquisition sale of competitor Legrand SA.

The EC must, however, pay compensation to Schneider to cover costs it incurred in participating in the disputed merger control action, according to the ruling in the Court of Justice of the European Communities.

The court reasoned Thursday that Schneider was under no obligation to sell Legrand in 2002 after the probe began and therefore the...
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