EU Court Lets €23.4M Thread Cartel Fine Stand

Law360, New York (April 28, 2010, 2:30 PM EDT) -- A European court has backed up a decision by Europe's antitrust watchdog imposing €23.4 million ($30.9 million) in penalties on five companies accused of participating in an industrial thread cartel, but has slashed the amount due by one of the firms in light of its cooperation with authorities.

The ruling Wednesday by the Luxembourg-based General Court of the European Union comes after the five industrial thread manufacturers had appealed their portions of a €43.5 million overall penalty handed down against 16 companies in September 2005 for...
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