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Court Slashes Hoechst's Sorbate Cartel Fine

Law360 (June 18, 2008, 12:00 AM EDT) -- The European Union's second-highest court has slashed the antitrust fine imposed by the European Commission on German chemical company Hoechst AG, ruling that the company was not the leader of a cartel that fixed the price of food preservatives.

The EU Court of First Instance ruled on Wednesday that the EC wrongly labeled Hoechst AG the leader of a cartel that fixed the price of sorbates, which are used as preservatives in packaged food. The court reduced the company's €99 million fine to €74.25, finding that...
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