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Business
Cartel Ruling Goes Against AkzoNobel
by Marc S. Reisch
September 21, 2009
| A version of this story appeared in
Volume 87, Issue 38
The European Court of Justice dismissed AkzoNobel’s appeal of a $26 million European Commission fine imposed in 2004 for fixing prices of the feed additive choline chloride. Akzo argued that the parent company should not be held liable for the anticompetitive behavior of an independent operating subsidiary. But the court ruled that because Akzo owned 100% of the subsidiary involved in the cartel, the parent company was responsible for the subsidiary’s actions even if the parent company was not directly involved in fixing prices.
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