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German Regulator Slaps Steel Cos. With $239M Cartel Fine

Law360 (July 12, 2018, 5:14 PM EDT) -- Germany's antitrust enforcer announced Thursday that it had fined a number of steel companies and a trade association €205 million ($239.5 million) for fixing the prices of certain steel products for more than a decade and causing higher costs that were passed down to consumers.

The Federal Cartel Office, orBundeskartellamt, levied the fines on six steel producers, 10 individuals and theEdelstahl-Vereinigung eV trade association, which allegedly passed on competitively sensitive information to the others to fuel the scheme.

The companies are manufacturers, processors or traders in...
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