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Panasonic Announces Appeal Against European Commission Decision on Cathode Ray Tubes for TelevisionsOSAKA, Japan --(Business Wire)-- Panasonic (News - Alert) Corporation (NYSE:PC)(TOKYO:6752)("Panasonic") announced today that Panasonic and its subsidiary MT Picture Display Co., Ltd. ("MTPD") have decided to appeal to the European General Court against the decision* adopted by the European Commission on December 5, 2012, because Panasonic believes this decision is factually and legally erroneous as it applies to Panasonic and MTPD. Panasonic and MTPD have already exited the CRT business, but will be stating their arguments at court and seeking fair judgment.
* The European Commission has issued a decision finding that a number of
companies, including Panasonic and MTPD, previously participated in an
agreemet to restrict competition in the sale of Cathode Ray Tubes for
televisions sold in Europe in violation of EU competition law. The fines
imposed by European Commission relevant to Panasonic and MTPD are as
follows: - Panasonic and MTPD, jointly and severally liable: €7,885,000 - Panasonic, MTPD and Toshiba (News - Alert) Corporation, jointly and severally liable: €86,738,000
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