Court rejects Goldman Sachs' appeal over $353 million fine
Posted On: Jul. 13, 2018 6:02 AM CSTThe European Union's General Court has rejected an appeal made by U.S.-based investment bank The Goldman Sachs Group Inc. and several cable companies against a €302 million ($353 million) cartel-related fine, Reuters reported. The European Commission had fined Goldman Sachs and the cable companies including Italy-based Prysmian S.p.A. in 2014 for running a power cable cartel for almost 10 years from 1999. The commission fined Prysmian €104.6 million including a joint fine of €37 million with its then parent, Goldman Sachs.