The EU’s top court dismissed an appeal by the Japanese electronics giant Toshiba, upholding a fine of more than EU 61 million (US $70M) imposed by the European Commission for participating in a cartel, according to a ruling issued on Thursday.
With the ruling, the fine became final for Toshiba after years of appeals against a 2007 decision by the EU to fine a total of 20 companies for colluding over prices on gas-insulated switchgear, heavy electrical equipment used to control energy flows in electricity grids.
At the time, the overall fine of EUR750.7 million (US $810m)was the second-highest penalty ever imposed by the EU’s competition watchdog.
After an appeal, a lower EU court scrapped the fines for Mitsubishi and Toshiba in 2011, as they had been calculated incorrectly. The court did confirm that the Japanese companies had participated in the cartel.
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