Does the General Court’s recent ruling in Goldman Sachs/European Commission provide new guidance on the parent liability of financial investors in cartel cases? Yes and no. Yes, because it shows what will not suffice to avoid parental liability. No, because it is silent as to whether in fact and if so how a financial investor can be distinguished from an “industrial” shareholder, and what criteria have to be met to escape parent liability.
Continue Reading Parental liability in EU cartel enforcement: has the presumption of decisive control become irrebuttable?