ThyssenKrupp Cartel Fine Slashed By EU Court

Law360, New York (July 13, 2011, 5:30 PM EDT) -- A top European court on Wednesday cut an antitrust fine levied against ThyssenKrupp AG by approximately €160 million ($227 million), finding that European competition regulators had improperly deemed the elevator maker a repeat offender, resulting in a penalty boost.

The General Court of the European Union slashed the penalty issued to ThyssenKrupp for its purported role in a European elevator and escalator cartel from €480 million to approximately €320 million, ruling that a fine increase imposed on ThyssenKrupp for repeated infringement of EU competition rules was...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.