Takeaways From German Case Of Missing Merger Info

Law360, New York (February 21, 2013, 12:59 PM EST) -- In January 2013, the German Bundeskartellamt (Federal Cartel Office) imposed a fine of €90,000 (approximately $120,000) on the German entrepreneur Clemens Tonnies, for providing incomplete information in merger filing proceedings. This is the highest fine ever imposed on an individual under German merger control law. Under the German Act against Restraints of Competition (ARC), the Bundeskartellamt may impose a fine of up to €100,000 (approximately $133,000) for incomplete or misleading information given in merger control notifications. The Bundeskartellamt and Tonnies have agreed to terminate the proceedings by settlement, and Tonnies will pay a fine close to the maximum envisaged for this administrative offense....

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