Schneider wins compensation

24 August 2007

Schneider Electric has welcomed a court ruling recognising its right to compensation from the European Commission following ‘the prohibition of its merger with Legrand’.

The Court of First Instance of the European Court of Justice, in Luxembourg, ordered the Commission to compensate two-thirds of Schneider’s losses.

The Court stated that “the grave and manifest failure by the Commission to have regard to Schneider’s rights of defence constitutes a sufficiently serious breach of Community law to confer such a right.”

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