The EU Court of Justice confirms the scope of liability for investors in companies involved in cartels (Goldman Sachs)

On 27 January 2021, the Court of Justice of the European Union ("the Court") upheld the €37.3 million fine imposed on Goldman Sachs as a result of the involvement of portfolio company Prysmian in the power cables cartel. The ruling has held that in the circumstances of this case, Goldman Sachs, the manager of the investing fund, could incur parental liability for the competition law infringement of Prysmian. WHAT YOU NEED TO KNOW - KEY TAKEAWAYSPrivate equity and other "financial" investor entities can in