S&C Represents Iveco in Landmark Settlement with European Commission Over Fines for Participation in Truck Maker CartelJuly 19, 2016
The European Commission announced that it had entered into a settlement with Daimler, DAF, Iveco, MAN and Volvo in relation to an alleged 14-year EEA-wide cartel relating to medium and heavy trucks. S&C represented Iveco and its parent CNH Holding International N.V. in this landmark case. The settlement led to the highest aggregate fine to date in an E.U. Commission cartel investigation. Iveco received the lowest fine.
The case gave rise to procedural novelty because it is the first time the Commission has used its cartel settlement procedure after issuing a Statement of Objections (SO) to the settling parties. The settlement procedure was designed to be used in place of an SO and the adversarial process that follows issuance of an SO. The settlement procedure therefore required adaption in order to be used after the issuance of the SO.
The S&C London-based team was led by Mr. Rodriguez.