EU High Court Lets €27M Bitumen Cartel Fine Stand

Law360, New York (December 19, 2013, 7:33 PM EST) -- The European Union's highest court on Thursday refused to overturn a €27.36 million ($37.36 million) price-fixing penalty against Dutch road construction firm Koninklijke Wegenbouw Stevin BV for its role in a bitumen cartel.

The European Court of Justice rejected the bid from KWS — the bitumen purchasing arm of Dutch construction conglomerate Koninklijke Volker Wessels Stevin NV — to reduce the 2006 penalty from the European Commission for its role in a plot to manipulate the Dutch market for bitumen, a byproduct of oil refining used...
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