The EU General Court hands down a judgment confirming a growing trend towards a broad application of parental liability (Goldman Sachs / EU Commission)

Infringement On 12 July 2018, the General Court (the GC) upheld an infringement decision of the European Commission (the Commission) made on 02 April 2014, in which the Goldman Sachs Group Inc (GS) was found jointly and severally liable with its indirect subsidiary Prysmian for violating Article 101(1) TFEU. The Commission’s initial decision concerned a cartel (involving market and customer sharing) for (extra) high voltage submarine and underground cables. The Commission imposed on GS a fine of around €37m, jointly and severally with Prysmian (because, inter alia, a GS-owned funds had high shareholdings therein). In its infringement decision, the Commission applied the principles set out

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  • Simmons & Simmons (London)
  • Simmons & Simmons (London)

Quotation

Satyen Dhana, Ian Hastings, The EU General Court hands down a judgment confirming a growing trend towards a broad application of parental liability (Goldman Sachs / EU Commission), 12 July 2018, e-Competitions July 2018, Art. N° 87435

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