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...
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