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Business Articles Awards > General Antitrust

Cartel Fines: Liability of Private Equity Funds

Stephen C. Mavroghenis and Matthew Readings, Sherman & Sterling, Antitrust Client Publication, April 2014

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The European Commission has held Goldman Sachs jointly and severally liable for a cartel infringement committed by Prysmian, an Italian cable maker formerly owned by Goldman Sachs’ private equity arm. The decision is a stark reminder that EU competition law allows the corporate veil to be readily pierced and that private equity companies are no exception.

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