What are the legal consequences for violating antitrust laws?
October 27, 2022 | 30,00 EUR | answered by Georg Sauer
Dear lawyer,
I am reaching out to you because I recently learned that my company may have violated antitrust laws. As the managing director of a medium-sized company in the food industry, I am concerned about the legal consequences that we could be facing.
The situation is as follows: in the past, we have engaged in price-fixing agreements with some of our competitors and have also divided the market among ourselves. This was done due to the high competition and margins in the food market. Now I have learned that such agreements violate antitrust laws and can have serious consequences.
So the current situation is that we may have already violated antitrust laws and are now facing the consequences. I am very worried about the future of my company and my personal liability as managing director.
Therefore, my question to you is: what legal consequences could my company and I as managing director face for violating antitrust laws? What steps should we take now to avoid or minimize potential penalties? Are there ways to cooperate with authorities and obtain a lenient penalty?
I thank you in advance for your help and advice.
Sincerely,
Greta Schröder
Dear Mrs. Schröder,
Thank you for your inquiry regarding a possible violation of antitrust laws in your company. It is understandable that you are concerned about the legal consequences and your personal liability as managing director. Indeed, violations of antitrust laws can have serious consequences, both for your company and for you personally.
When companies violate antitrust laws, they usually face hefty fines. Depending on the severity of the violation, these fines can amount to up to 10% of the company's worldwide annual turnover. In addition, competitors or customers may also seek damages. In severe cases, criminal prosecution of responsible individuals, including executives, may even occur.
To avoid or minimize potential penalties, it is important to act quickly and cooperate with the relevant authorities. It is advisable to conduct an internal investigation to clarify the extent of the violation and determine possible responsibilities. Subsequently, you should proactively cooperate with antitrust authorities to clarify the situation and, if necessary, make a voluntary disclosure. By cooperating early and being willing to address the violation, you may be able to obtain a more lenient penalty.
It is recommended to seek advice from an experienced competition law attorney in this situation. An attorney can assist you with the internal investigation, help you communicate with the authorities, and assist you in taking appropriate measures to minimize risks.
I hope this information is helpful to you and I am available for any further questions you may have.
Kind regards,
Georg Sauer, Attorney at Law
