Work Area: Cartels

Potential Korean price-fixing penalties face strong political pressure

The Chinese government has expressed concern over the potential imposition of major fines by Korea’s competition watchdog against 23 liner operators – including some Chinese companies – for allegedly colluding to fix freight rates.

20 July 2021

Second Circuit affirms dismissal of bond cartel lawsuit

Allegations that more than 20 banks conspired to form a bond-trading “super-desk” are too broad to be plausible, a federal appellate court has said in affirming a lower court’s decision to dismiss the case.

20 July 2021

UK Forex class actions will collapse if not pursued as opt-out claims, counsel argues

Neither of the proposed claimants seeking to bring collective damages actions against members of the Forex cartel will pursue opt-in claims if their bids for opt-out certification fail, the UK’s Competition Appeal Tribunal has heard.

16 July 2021

ECJ clarifies jurisdiction in Spanish trucks cartel damages claim

The European Court of Justice has confirmed that a specific court in Spain should hear a follow-on claim against Volvo for damages that arose from the trucks cartel, after clarifying EU rules on international and territorial jurisdiction.

16 July 2021

DOJ’s first criminal no-poach case expands with DaVita indictment

A federal grand jury has indicted healthcare company DaVita and its former chief executive for allegedly conspiring with rival companies not to hire each other’s employees.

16 July 2021

The Asia-Pacific Round-up (16 July 2021)

News in brief from the Asia-Pacific region… As each week goes by, there are near constant developments in China’s “Big Tech Crackdown”, which has touched nearly every major technology company in the country. China’s competition watchdog has kept Tencent in its sights for some time, but recently took its most significant decision against the homegrown technology company – blocking outright a planned merger.

15 July 2021

Austrian court urged to fine construction sector cartel

The Austrian Federal Competition Authority has asked a local court to fine two Strabag Group subsidiaries a total of €45.4 million as part of the enforcer’s largest-ever cartel investigation into the construction sector.

15 July 2021

CAT chairman questions alleged effects of Forex cartel

The UK judge overseeing two proposed class actions against members of the Forex cartel has laid out his initial concerns about both claimants’ theories of harm.

15 July 2021

Banks urge UK tribunal to avoid opt-out route in Forex cartel claims

Neither of the proposed UK class actions seeking damages from members of the Forex cartel should proceed on an opt-out basis, the defendant banks have argued.

14 July 2021

Italian court annuls fines on country’s biggest telecoms companies

An Italian court has overturned a decision by the country’s antitrust watchdog to fine four telecommunications companies €228 million for allegedly agreeing to fix monthly mobile phone prices because the authority failed to provide sufficient evidence of any unlawful collusion.

14 July 2021

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