ECJ Orders Review of Infineon Antitrust Fine
September 26 2018 - 7:09AM
Dow Jones News
By Nathan Allen
Europe's highest court on Wednesday ordered a lower court to
review a penalty imposed on Infineon Technologies AG (IFX.XE) for
its role in an alleged cartel with other chipmakers.
The European Court of Justice said the General Court must
"assess the proportionality" of the 82.8 million-euro ($97.4
million) fine, which was levied on Infineon by the European
Commission in 2014, after it said the company had conspired to fix
prices for chips used in mobile phones between 2003 and 2005.
Infineon and fellow chipmaker Philips NV (PHIA.AE)--which was
hit with a EUR20.1 million fine--challenged the Commission's
decision in the General Court, disputing the existence of any
cartel and the amount of the fines.
The General Court dismissed the actions and upheld the fines,
prompting the companies to lodge a second appeal with the ECJ.
Following its investigation, the ECJ said the General Court
should have responded to Infineon's claims that the penalty was
disproportionate.
The ECJ dismissed Phillips's appeal and upheld the original fine
imposed by the Commission.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
September 26, 2018 06:54 ET (10:54 GMT)
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