BRUSSELS (Feb. 3, 2012)—The European Union General Court has rejected appeals by DuPont Co., Dow Chemical Co., and Denki Kagaku Kogyo K.K. against fines imposed by the EU for their participation in a cartel to fix prices of polychloroprene rubber.
The court upheld three separate rulings, saying the European Commission was right in the findings and fines it imposed for the cartel. An appeal by Eni S.p.A. is still under review
Five companies were fined a total of $325 million in 2007 by the commission for price fixing and participation in a cartel in chloroprene rubber, from at least 1993 to 2002, the commission said.