BASF, Daiichi Vitamin Cartel Fines Slashed By E.U. Court

Law360, New York (March 15, 2006, 12:00 AM EST) -- A European Union court has slashed fines that had been imposed on the world’s largest chemical company, BASF AG, for its role in illegal vitamin cartels, ruling that regulators failed to prove the company's role as a cartel ringleader.

The fine, which was handed down nearly five years ago, was cut from €296.2 million to €236.8 million due to procedural errors made by the European Commission when calculating the amount.

The Luxembourg-based European Court of First Instance, which has condemned the German chemical maker for its...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.