IMI, Chalkor Get EU Tubing Cartel Fines Reduced

Law360, New York (May 19, 2010, 2:00 PM EDT) -- The General Court of the European Union has reduced fines imposed on Britain's IMI PLC and Greece's Chalkor AE for their role in a decade-long copper plumbing tube cartel, though it did not disturb the fines imposed on four other cartel participants.

The court, Europe's second-highest, announced Wednesday that it had cut IMI's fine from €44.98 million ($55.9 million) to €38.56 million and Chalkor’s €9.16 million penalty to €8.25 million. The court said it determined that the European Commission, which imposed the fines in 2004, had...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.