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...
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