The U.K.'s Channel 4 News reports that a panel of European Union judges have reduced a price-fixing fine levied against Nintendo in 2002:
The Japanese game maker and seven of its distributors were given fines totalling just over £150 million by the Commission for breaching EU fair competition rules by trying to keep prices artificially high in some countries during the 1990s.
The vast proportion of the total was against the parent company - one of the biggest fines meted out by the EU's powerful fair competition authority to reflect what the Commission said was Nintendo's role as "the driving force behind the illicit behaviour".
But Nintendo appealed to the EU's Court of First Instance in Luxembourg, where judges ruled that the Commission should have taken account of Nintendo's level of co-operation in the price-rigging inquiry.
Nintendo's fine was reduced from £134 million to £107 million.
Via: Edge Online
Comments
Re: Nintendo Price-fixing Fine Lowered by EU Court
So how many years has this dragged on for then?
Re: Nintendo Price-fixing Fine Lowered by EU Court
quite some time... I think Mario Party 4 is still $40... at gamestop.
Re: Nintendo Price-fixing Fine Lowered by EU Court
Wow. I wish I could make £27 million just for not obstructing an investigation.
Re: Nintendo Price-fixing Fine Lowered by EU Court
They didn't make £27 million, they avoided losing £27 million.
-Gray17
Re: Nintendo Price-fixing Fine Lowered by EU Court
Good luck convincing me that there's a difference. The £134 million was a consequence of actions they had already taken. By simply not obstructing the investigation, they have £27 million more than they would have if they had not cooperated.
However you choose to describe it, that's a huge chunk of change, for what had to be a pretty small amount of work on their part.