Shrygue
May 20th, 2008, 19:52
via Joystiq (http://www.joystiq.com/2008/05/20/nintendo-calls-eus-234m-price-fixing-fine-illegal/)
Nintendo has called a €149.1 million ($233.6 million) fine levied by European Union regulators for price fixing "unfair, illegal, [and] even shocking." In 2002, the commission fined Nintendo and seven distributors a total of €167.8 million for colluding to raise prices of game consoles and software from 1991–1998. While Nintendo isn't denying the profit boosting efforts, it claimed yesterday in the European Court of First Instance in Luxembourg that the portion of the fine owed by the game company is unjustified and discriminatory -- and indeed, at the time, was the largest ever punishment for colluding with distributors.
The commission stood by its initial ruling that the steep penalty reflected Nintendo's role as producer and supplier of the price-jacked goods. It was Nintendo's responsibility to prevent price fixing and failure to do so merited the fine, the commission stated in court filings.
Nintendo has called a €149.1 million ($233.6 million) fine levied by European Union regulators for price fixing "unfair, illegal, [and] even shocking." In 2002, the commission fined Nintendo and seven distributors a total of €167.8 million for colluding to raise prices of game consoles and software from 1991–1998. While Nintendo isn't denying the profit boosting efforts, it claimed yesterday in the European Court of First Instance in Luxembourg that the portion of the fine owed by the game company is unjustified and discriminatory -- and indeed, at the time, was the largest ever punishment for colluding with distributors.
The commission stood by its initial ruling that the steep penalty reflected Nintendo's role as producer and supplier of the price-jacked goods. It was Nintendo's responsibility to prevent price fixing and failure to do so merited the fine, the commission stated in court filings.