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Mitsubishi Electric Corp announces judgment of European Union Court of Justice in gas insulated switchgear case


Thursday, 19 Dec 2013 06:45pm EST 

Mitsubishi Electric Corp:Says the Court of Justice of the European Union upheld a ruling by the European General Court regarding the question of the company's infringement of EU competition law in respect of sales of gas insulated switchgear (GIS), on Dec. 19.Says the company had appealed to the Court of Justice of the EU to assert that the European General Court's judgment incorrectly upheld a finding of the EU Commission in July 2011.Says the company regrets that the Court of Justice of the EU has rejected the assertion that the company did not breach EU competition law in respect of GIS sales.Says the judgment will not affect the company's financial forecast for the fiscal year ending Mar. 31, 2014, and the company's appeal to the European General Court for a recalculation and reduction of the fine is still pending. 

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1696.5
3.5 +0.21%
9:11pm EDT