Top EU Court Trims Power Cable Cartel Fine
Law360 (May 14, 2020, 3:45 PM EDT) -- The European Union's top court pared a price-fixing fine against power cable maker NKT by €200,000 to €3.687 million ($3.98 million) on Thursday, saying the European Commission can't penalize the company for cartel sales outside the bloc's economic area.
NKT entities in Denmark and Germany had challenged a July 2018 lower court ruling that upheld the commission's fines against numerous companies as part of a yearslong cartel investigation into the underground and submarine cable industry.
The original penalty was €4.319 million before the commission decided to reduce it by 10% for "fringe players in the cartel," like NKT, according to court...
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