Competition law investigations, fines and related litigation
First written in FY2016. 4 of 7 entries say "Mitigated", first in FY2017-Q1. Latest entry: FY2020-Q3.
The whole theme swung hardest in 2022: 2 of 15 companies on the "Worse" side.
3 other companies' latest entry also says "Mitigated".
- FY2020-Q3MitigatedAnnual report
「In addition, numerous lawsuits, including class actions, were filed in multiple jurisdictions alleging that Sony and certain subsidiaries had violated antitrust laws and seeking damages and other remedies. These lawsuits, including the U.S. class actions brought by direct and indirect purchasers of the products, have been settled, with the exception of one pending action. Sony believes that the ultimate outcome of the pending action will not have a material impact on its operating results or financial position.」
The company stated that the antitrust-related lawsuits had been settled except for one pending action, and explained that the remaining action would not have a material impact on operating results or financial position. - FY2020-Q2AdvancedAnnual report
「After carefully reviewing the judgment, the Company appealed to the Court of Justice of the European Union in September of the same year.」
Following the judgment of the General Court of the European Union concerning the European Commission’s €31 million fine relating to the optical disc drive market, an appeal was filed with the Court of Justice of the European Union in September 2019. - FY2020-Q1MaterialisedAnnual report
「In July 2019, the General Court of the European Union handed down a judgment upholding the European Commission's decision. After carefully reviewing the judgment, the Company will consider whether to appeal to the Court of Justice of the European Union.」
Regarding the European Commission's €31 million fine concerning the optical disc drive market, the General Court of the European Union handed down a judgment upholding the Commission's decision. Consideration of an appeal and related litigation are continuing. - FY2017MitigatedAnnual report
「In December 2016, the Company and certain subsidiaries reached a settlement with the European Commission. Sony understands that the investigation has already concluded.」
The competition law investigation concerning the secondary battery market resulted in a settlement with the European Commission and payment of a fine. Investigations and litigation concerning optical discs are continuing. - FY2017-Q3MitigatedAnnual report
「In December 2016, the Company and certain subsidiaries reached a settlement with the European Commission. In connection with the settlement, the Company agreed to pay a fine of approximately €29.8 million.」
The competition law investigation concerning the secondary battery business was settled with the European Commission, and the Company agreed to pay a fine of approximately €29.8 million. Meanwhile, the remaining investigations and litigation are continuing. - FY2017-Q1MitigatedAnnual report
「Among these proceedings, the US class action brought by direct purchasers was settled, and court approval of the settlement has been obtained. In addition, the US class action brought by indirect purchasers was also settled, and procedures are under way to obtain court approval of the proposed settlement.」
Some competition law-related litigation has been settled and approved by the courts, while the approval process for a settlement proposal in another class action is progressing. Litigation and investigations remain pending. - FY2016First statedAnnual report
「In October 2015, the European Commission adopted a decision ordering the Company, its Japanese subsidiary Sony Optiarc Inc. and 2 other subsidiaries to pay fines totaling €31 million. In response, the Company filed an action with the General Court of the European Union in December 2015, challenging the decision.」
The Company disclosed the European Commission's fine decision and subsequent litigation concerning the optical disc drive business, as well as investigations and litigation concerning the secondary battery business and other matters.