Shell Gets €27M Cut From EU’s Bitumen Price-Fixing Fine

Law360, New York (September 27, 2012, 1:52 PM EDT) -- A European Union court on Thursday slashed €27 million ($34.75 million) from a previously issued €108 million antitrust fine against Royal Dutch Shell PLC, ruling that regulators had failed to prove Shell was the ringleader of a cartel to fix prices for bitumen.

The EU's General Court said the European Commission had “insufficient evidence” to conclusively show that Shell either instigated or took a leading role in the cartel, meaning those factors shouldn't have elevated the fine.

The EC fined Shell and 13 other companies a...
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.