SOLNA, Sweden--(BUSINESS WIRE)--Regulatory News:
The District Court in Norway today announced that it had decided to reduce the competition-infringement fee that the Norwegian Competition Authority had levied on NCC in conjunction with a case of unlawful collaboration in Trøndelag. The District Court reduced the fee from MSEK 150 million to MSEK 43 million.
NCC is of the opinion that there were no grounds for finding the company guilty in this case since it involved a single individual from NCC who had engaged in unlawful collaboration with a competitor. Such collaboration was in complete violation of NCC’s instructions and guidelines for its business operations.
Due to the reduction to MSEK 43, NCC believes that the court has taken the company’s arguments into consideration in this case.
“We will now study the verdict in detail. However, we naturally note the fact that the District Court has taken our arguments into consideration,” says Håkan Broman, Senior Legal Counsel at NCC.
In April 2013, NCC appealed the competition-infringement fee imposed by the Norwegian Competition Authority in order to clarify what NCC could have done differently to prevent the events that had transpired.
“We are of the opinion that NCC could not have prevented this violation. It happened despite NCC’s comprehensive rules and regulations and the training we provide in ethical business behavior and competition law,” says Håkan Broman.
This is a case of a single former employee who had consciously contravened NCC’s values and rules.
NCC has already posted a provision for the required amount.
This is the type of information that NCC could be obligated to disclose pursuant to the Securities Market Act. The information was issued for publication on February 19, 2014 at 14:15 p.m. CET.
All of NCC’s press releases are available on www.ncc.se/press.
NCC is one of the leading construction and property development companies in the Nordic region. In 2013, NCC reported sales of SEK 58 billion and had 18,500 employees.
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