Court Rejects GN's Case Against German Cartel Office
The Düsseldorf Court of Appeal has notified GN Store Nord that on March 26, it will dismiss the company's appeal in its case against the German Federal Cartel Office.
On December 22 2010, GN Store Nord filed a claim of EUR1.1bn as compensation for the alleged significant loss imposed on GN and its shareholders in relation to the German Federal Cartel Office's unlawful prohibition of the sale of GN ReSound, GN Store Nord's hearing healthcare company, to Sonova in April 2007.
On February 26 2013, the Court of Cologne dismissed GN's claim. The Court of Cologne acknowledged that the prohibition of the sale was unlawful, and the Federal Cartel Office had breached its official duty, but claimed that the unlawful prohibition did not result in liability for the German Federal Cartel Office.
GN disagreed with the decision by the court and decided to appeal the decision on March 26 2013.
GN will, upon receipt of the written reasons for the judgement, decide whether or not it will appeal the decision to the Federal Supreme Court.