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The Biggest Antitrust Penalty for Running Cartels.

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12:0006 December 2012

The European Commission imposed the biggest antitrust penalty in its history on Wednesday, fining six firms including Philips, LG Electronics and Panasonic a total of 1.47 billion euros ($1.92 billion) for running two cartels for nearly a decade. According to the EC, the seven international companies participated in “either one or both of two distinct cartels in the sector of cathode ray tubes (CRT)” between 1996 and 2006, where prices were fixed, markets shared and customers allocated between the parties.

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