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EU Court Trims €313.M Carbonless Paper Cartel Fine

Law360 (April 26, 2007, 12:00 AM EDT) -- A European appellate court has slashed some of the fines handed down years ago by the European Commission in a €313.7 million cartel case involving the carbonless paper industry.

On Thursday, the European Court of First Instance reduced a handful of the massive individual fines brought against 10 companies that allegedly colluded to fix the prices for carbonless paper.

The EC imposed fines in December 2001 after cartel participant Sappi helped the Commission unearth the price-fixing and market-sharing conspiracy in the carbonless paper sector.

Sappi was...
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