BMW Ready For $1.1B Fine Tied To EU Cartel Probe
Law360 (April 8, 2019, 7:07 PM EDT) -- BMW is steeling itself to be fined €1 billion ($1.1 billion) by the European Union’s antitrust enforcer as the result of a probe into whether the automaker colluded to keep emissions-reducing technology off the market.
BMW Group said Friday that it considers a massive fine “more likely than not” after the European Commission announced that its probe found that BMW conspired with Daimler and Volkswagen to restrict the development of clean-air technologies that aim to reduce environmentally harmful emissions.
“The statement of objections leads the BMW Group to believe that it is probable ... that the EU Commission will issue a...
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