EU High Court Says Commission Can Bring Cartel Suit

Law360, New York (November 6, 2012, 7:54 PM EST) -- The European Commission can seek damages from companies it has already fined for antitrust misconduct, Europe's highest court said Tuesday.

The European Court of Justice said the EC, which sued Otis Elevator Co. and ThyssenKrupp AG for jacking up prices on elevators installed in EU buildings, is afforded the right to remedy wrongdoing through the courts just like any other customer that has overpaid for services. 

Although national courts are bound by the EC decisions, EU law provides for judicial review of the commission's competition decisions,...
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.