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Four cartels at core of EU price-fixing fines

Legal

Thursday, March 29, 2012

The $225 million in air freight price-fixing fines handed out Wednesday by the European Commission to 14 air forwarders has dwarfed previous penalties or settlements for related cases in other jurisdictions. The European Union antitrust division’s case for the penalties – including more than $140 million against Kuehne + Nagel, Panalpina, and UPS alone – amounted to “four distinct cartels aimed at fixing prices and other trading conditions for international air freight forward...

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