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Nintendo gets price fixing fine reduced

Written by Andre Yoskowitz (Google+) @ 01 May 2009 23:10 User comments (3)

Nintendo gets price fixing fine reduced The large fine imposed on Nintendo by the European Court over price fixing has been reduced today, from EUR 149.128 to EUR 119.24 million.
The fine, given to Nintendo and seven of its European partners, was over price fixing on consoles between 1991 and 1998. Because all parties co-operated with the court ruling, the fine was reduced.

"The Court recalled that the basic amount of the fine may be reduced where the undertaking has effectively cooperated in the proceedings," said the new court decision. "In the contested decision, the Commission took account of John Menzies’s cooperation, with the result that it reduced that undertaking’s fine by 40 per cent.

"The Court held that pursuant to the principle of equal treatment, since Nintendo produced the relevant documents at the same stage of the procedure and its cooperation must be regarded as comparable, it must benefit in this respect from the same level of reduction of fine."

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3 user comments

12.5.2009 13:54

First, it's interesting to see them get in trouble over an older-than-a-decade price fixing.

While it is good that they are getting in trouble if they truly did price fix it's interesting that it didn't "play out" until now.

Quote:
The large fine imposed on Nintendo by the European Court over price fixing has been reduced today, from EUR 149.128 to EUR 119.24 million...with the result that it reduced that undertaking’s fine by 40 per cent.
Wait... 40%? Apparently the court needs to do it's math again, unless the reduction or other figures are based off something I can't see.

40% of €149.128 million is €59.651 million, which means the fine should have been reduced to ~€89.477 million, not €119.24 million.

If the fine had been reduced to €119.24 from €149.128 that would be a 20% reduction.

Peace

22.5.2009 18:48

This might be a dumb question but, where does all the fine money go to?

33.5.2009 9:51
blueroad
Inactive

the european union

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