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DyTIN »9d 71 .Dapo m2 DONT NVAINAN 7 MINN pra 34,10 n9vI9 NINN 17.7.2017 OVA WPA NANA MwA AYA PAYA anyTAD NVA Nw ANT TD 51 ‘The case concerns an ex-officio investigation in the market for detergents and cosmetics for suspected infringement of national and EU competition law by the COLGATE - PALMOLIVE group of companies, as well as by companies active in the retail and wholesale trade of supermarket products. The HCC issued an infringement decision addressed to Colgate Palmolive (C-P) and super market chains for anticompetitive clauses in the supply agreements, that led to the prevention of importing C-P products from other Member States, therefore violating Articles 1 and 2 of the Greek Competition Act and 101 and 102 TFEU. In addition the decision found that C-P had abused its dominant position in the market for glass cleaning products, as the compliance to the contractual terms prohibiting parallel imports is inextricably linked to the granting of rebates to its consumers, having as an effect the loss of the rebate, in case the customer failed to comply with the parallel import prohibitive clause, TVA TPNPNwPNA A992 wMPIPY WPA ANNAN Mw? oa NNSA SMW MANNA Mw ANITA 52 apn NID mynd AND ATV NdVN oy IPN DIV INNAWND YPN 97 10.1-95V9919 TOA Mop b»dIP YADA AVANMANA MW 53 (810 n90y) AYTIA ATA ARAN TD) AYPNA NN wad 7D 1 THN MAD AYOR YPN NORA MPD «An additional administrative fine of an amount of € 400.000 was imposed on C-P for submission of misleading data, obstructing the Directorate- General’s wwestigation. TX MON Pap NID N|vIN OA NYP THYD DIN O29 O-TOA MyynNA eI AW YNPAN 54 saMANYT YP) 1N3 Mdvan MPvpPION HN Non MyanN .6 22 PRN.NAWAD OndIP MINI DY Dap NIV 9d0> WY , PHA (ENN) WAN NX PNA MAMA 55 sDIPddYn AN MVAY DMs INN D9 IN PDD WPY OOTY .OPQVNNA D992 O99 OTD .AMI oyMPAA PATINA-wINA WANA NON AN DANDY 22 IMR DVI p2 VAN TN ,Dr2vNNA WIV OYYD N29 ONY AVY ...291> TON" npgyaay BNVdA TAVAD OMdY 19> ;NPPINN 9N SY Oran IN PNA Sy BPAY ON wm htps.//www.competitionpolicvinternational.com/wp- fuploads/2017/07/%4CE%494%CEY95%CE%9BY%CE%A4Y%CE%99%CEYOF- ASPACEYASYSCE%AO%CEYIFVCEYAS 610 2015 COLGATE, en-2.pdF CE 5(10.8.15) 79 nPoD ,SNAW? no-419 9 "Ya DOADWY 5823/14 91 1B» soyon / n/a DrdpMD OPN MTNII YIN 2 (19°73) "YA 739 “DP dy yPrw ANA pod Da (28.4.14) nban »bYon 49 B»dprnr9 Nan 61324-03-14 a79N2 WIN ,194 Hy NORA SYS WOT AID TT PRIMI WAI NYY JN -NPOD*AP NWI IN BINA MWS" JPY ON DAM PIN OTA DUNTA DSSADYI" MI Fooapn nN ASTD PON Mann OY 1 nav.» 5-6 Noy) Pawo MANIA ANd AVA Av DWI 56 Aovann -7¥ PAY Papo NI NyNd WON TAINS? 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AMON dY OPIN BAW TDI} VTP ama OFPYY NENA ayannn Sy mAA ANT py myNWD ADD MEN BID» ,OMPYA MND 42 DION PDENIUN DINNI yyyna Oya ON ONY MAD rya OTD dv No ....9WIN BAN yo» .DIN Wyn OMNN DANY DY OMY MVD PIVd WINN? Yann Tw TIN SIA WN D O>YY MINVND NAMB PAN MANNA Nin92 217 wIpA DY PIN AT (5 4 my >y> L nav? ANNA NvdNA) TINY D»MyDVD MOND MN) MANN _myamn pa dan TENA NNdyA dy Yr (DW) PAN NO: ADI *BON MIAN TayHN AYIPY 99 AMMNY NDA MMONID DYIVA raya MAMA PAIN ONAN WHA 75.4 SAN NN THYY ODA JY MIND) TINA NPIDAS MITYAA MMPVYP2 POIND AT Sy onan pa waIM aa MY DY MPAYD MMIOA 7a.) DMT ONY TVD FRosnn) AM pa OAM LIND PN ..ONA OPIN oN HPPY mNYA 5 4 ny ,»Y2 1 neo) MYRN TY Mya YA 9aIIn WENN ANsyNa yo Ar py 02 SDYPYA MNAWN PwA DYPNYT DY PIA NMA MPH No»p sPwN 75.5 pwn onmsa NOP 9y OrTBbINA MWAA Apa NSD BY INN Mapa Br NOT DI n9 dy DY DAMN OYPY MND dV (4-5 "ay ,>>99 1 noo) ,ANBMN NvdNN) Gregory J. Werden, Economic Evidence on the Existence of Collusion: Reconciling Antitrust :\x1 O° WWI NANT” OECD Roundtable, Oligopoly (1999) available at ;Law with Oligopoly Theory, 71 ANTITRUST L.J. 719 (2004) htpy/Avww.oecd.org/daficompetition/1920526.pdf 20EDOM MUP YA vMdIP SY OMIY MNVND DION ,OMPY MYND VIpIAN YY Suwa yoabIp aninn dv O»wA MNwNd WIp»IN»D OVD MwA NPA NYDD vaWwA NPA PINaMB NI vMadP 79 YPYA PIA rN OM EN? HYP NI FR aMBd MA MIDI NST MW 91 PY MVE DY mIMB_PA pa PINPA ANDY OM AW DYTINY MOND dya A DYPYN MND PIV» ADI YaYpIN yo myann 75.6 78.7 syn nmnnd my mawn nop -MYTWn (Interbrand competition) mama pan ANNAN WN jomadip naywd myNDIA 7d TPAMID PAN MVANNA WA AYN intrabrand competition) manv vmdnp Sy ONY OPEN PA MaMID TNA _ANANA pv ATID Pre? AMPA PMBY WANA vd9BN 209 YN AVIA NON ANY DW WN ND TW .ODSY PAd amp_Y Swen AN Mwy anv TiO» NAD NBN »9ION YIN? 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PIT AN ANT > avn pavnY Nw ANSIND AD NIM NYPOYNATIAI WD Dap NPI TI yao Dapan MMA OTN TPH) NWN NASD MW MPT ONY DrVNDI 32 DPAV AN OHNIDIA SY DMI HN TDI) MAND SNA INAS MINT Bv3 73 snip TAN AI MIWN DINIT WNIN Jd .DHPN HY NOV DNA 1999 ND AV Drape nian 50 ANSINA MNoYND Oa WApNA NOMA D0 OVA DAYS OMY” MNYNI DVYONYD DWN m2 sana Ayan Yow ANY OY DNAWA IN M2 99 .II WDA ANY MNP-DY MPy9 by ODI TAN WIA NNSA AYAPY OITA JNSP O99» DOP MANNA YT ONA IMNY 7ONDP PY INT pa ma DIV dy OPA TI HN” AANA Appellants have pled antitrust injury. Generally, when consumers, because of a conspiracy, must pay prices that no longer reflect ordinary market conditions, they suffer "injury of the type the antitrust laws were intended to prevent and that flows from that which makes defendants’ acts unlawful.” Gelboim v, Bank of Am. Corp., 823 F.3d 759, 772 (2d Cir. 2016). 21 7 7(poy prdaINN pind 6 4990) bax> TIDAY MANNA AWE 7.1.5 syrona v9 pon bv) myamInW YON NNt ANT MYON 1393 pad NIA ME PIAANA VND 78 PI ONY PREY NaI MID ON WON OIA TOA’ YOY TY PA YA -PapHA rap dod = aMMY ,MIANAA PIN? 6 PY AD y»0d >79 Jaa PR wbIPA To»PY NVM wd "MWHNAH syNp ,2N2 77nd Fows ANAT ANY AN ADD ,TTOAY PII NN DN Nd TOA OPP dy WIP POY Iny!N DIN TONY TSD ITN IND? gpyo Sy Ted TD. INV TY PA ND yyy NIAY QN., 929 1TOAY YY ONAN OTN OY ADIN AT PID 77 pny dy WIM dD INN pdraN AWPAA POPID AYIA M Da N991D NOT NON YAN TONY 79 9¥ "IVD" N-Pya NsOAR AYN. WON NPAT” pind 6 -pyD MNTIAD WENA AY Nt AN 2A IVI TeAd ONNAI AMAIA Todt knw HA APANN NSVAAY M2INA dy AYPAyD NANT .O»PoyA OaIA eyanan VTA 999 TAA oa WND (2003) 144 ,135 (319 9 ~PVTPAD 9 DN? 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IM2 2309 DIY MY 722 PID PITY, WD (pHOINDy apn manna AYNDd YUN DPA pron DY MVP DIV" .((5.8.16) 63 °D >I 2 N'A 9269-07 (0->) pobann by navann /2 APMMMAb MPVTDN 3574/00 (0°) ¥.n) "PoaMNDA bya SY AYN DY Yad dry2 aoyan NN poy dya by dana Mon }NY MIND MaINd M99 pr 92 (29.4.04) 64/0 ,>POY mawM9 TWX MAND MprpI9a IPN Poona bya SBD AN M| MID CAMPY IN OID 29 WWND (OMA OPN Tad IN OPN TON ,-APIATIV Mn ,2wNd) APPIN ANY APATINA 38, poronin bya NY PY wn INI oPY 501198 B>»poY Br¥aIA 2 Moy MDa pA YMA nD AYR dy WONN NN OMPDY OrdaI Dy MBYMMD YIP V7 YT DID 29173 IpY> won yond yHvoMW pw ynnMA aYBA MyIIA VTA MMA MMT porswwn 993 99 dN PANN” :(28.2.17) [BN p90? S109 NDPNN YA ,PINT 79 by powowIa dya dy MdNA AM pYyN Mayon yw NPS WW MMANA yn» MIdIsn AY DSybyn yowna ron’ ay Dino TaTa wMAv> YoMAN AWONM ,PINd 29 qpyDA MNapA OPO -nba DEON PoroWwIV SIE pind 829 spy0a pian Nasa AMNNA Ns Case T-111/96 Promedia NV v Commission, ECR 11-2937, para 139 (1998) 22JAMIN pINd N29 PyoI 29 py2 MAP porowrn d92 dy OMION N2In NyoAy MON ADD 83 SYPUA IN ODI AN VIDA IN PIVd" PID ND YINA 379 prow SY DIN AMINA pind 29-pYD 84 2.wyn naw dy MANNA By pAY ARAN WNDs vas ATI Jad "pap 93 Wo mpdroDAwW NON PMN dy MIN WA ProwWAY VIAN APD IW TINd poroMW dya dW AW DD ND 119 DOW MAND PY TT ND) HPYA VIA DPI ATTA MANAN onAANN IN IN IPA AWN PI ann “--naN TANNA dy NV NNNNA dy pnd yD O»PoYA Or-axNN wT YoY ,AMP_AN sna"Nd onda ayPD9 OMYND — HMPID 7NSI NPHY RON IN MND PND DwNd I> DPA N23 OPNINA NPI yap porn bya by TON AT PY TANNA PINd N2v—pYD WA phronn sya dy Man BA DWAPYOA 85 :YDP ,OYPoyn DANN PIN? N29 PYD 7N2'N2 IN NANA yn99 dyy7 yoINA NYA THAYID NN 397 IAN TPNIAD SYN INA P!WA MAYEN AYA dy» NY porowy dy2_ (N).NZ ADS3 yHSd Iw DPOYI MAAN IPNOND DydyT YDINA PII VoD NN NYT 58399 pI1917IN 9YI IP a) nONA DO PIA Yo THN 93a TSA Moy IW BYP OYA TMIANA NN WIN DDN Dw ODN N22 WPI IW MIP ~PND NIN Ww AWAD a) jpdimnnav ayn -by DyyMINA DNYPUA 4p IN IN DPI MIND SY TET IN DIY — 2) ;FNN NNN Nya TON NIV , p19 9y¥3 PNd DMWY WN NwIT Mpoy? OW NwPNA MIN nyaP Q) DNA DANN 9999 IN °Nda WP DDN 7907 IN MINIPI7 UN DONA PoODNA NIPWA IN VIA TATA NNwWPAAA DIA (4) RUDD OY DYN DIPN INH NIN? DNNAA IN OYAVD mwpann 09 oP PYD MINA dy POIT MAA At YP PE AROMA Md*Y Q) | PVA TaYN DY AYTD DD (a) ; PorOMID DY WYP IN) -MITIO NVIDY w PINd NZI-DYD 86 opr Tay DY AY dis *AID AYTIN DY NNW? YAN (3)NZI PY 4.TNDYI IN NINN Ny”99 PSI MINNA yn APyey MANN AMIN >> DOIN ADIN Nap OND TNN 29 5¥ WaVP OY WN 77n ,(2)N29 PY DY MVNA rR TNA WND NINA PorowM N21 12 MPHI yao TANT AN Fon|M Voy NN AAD 5399 NAW NDIA BA M_SVNA NPIAN NIDw TYMIEy WU PRD AT ANIA NWN ANY ALIS ApINA AAIT|N DS3 manna (5.8.16) 64 "0 ,»pO39D99 13 WW 9269-07 (0-9) NT “It follows from the nature of the obligations imposed by Article 86 of the Treaty that, in specific circumstances, ‘undertakings in a dominant position may be deprived of te right to adopt a course of conductor take measures which are not in themselves abuses and which would even be unobjectionable if adopted or taken by non-dominant undertakings."; Richard Whish And David Bailey, Competition Law, 192 (7th ed. 2012): “{t}t is clear that article 102 imposes obligations on dominant firms that non-dominant firms do not bear”. ot mapy MRD ARUA pa IY Pry PAO Mba B1VO" + (20.1.05) 360 PENA adn YHraNH VAN MaNAN 8011/03 yn” 1921- (WH) N. OAM ; HOSA MAND dy NOY NNN Na} 991 MPVDINA TMnNA By aNd wn OND TeX /OMPONN aN igen ana rbaamp yan arpD Yd /PaD" NIA IWND PI NDPOND NIM STPOM (61.15) 2270, NAVOK '9 TN MY? /9Y99 12-09 ‘pron pyran 967 /3 PHOUIP P 12430-07-09 (>N) NDA ; 17D) OND MPD Vw IN MD? WH DIAN VIO wR (21.6.1 39°0 a9 yan avn ma dy y1PN HNDD EPONA DwaaNA wr :(21.2.02) 17/0 /Br»PwY DYbaAN dy MIYBHN's BH 9/99 (0°) 9 norma roma vine) Viv No OM TA ANNA AYMD yO MIN..JPAAN TSW IV 9pan TWO 7999 MDA (6.1.15 12 DONS) 29 My ,BVa BHAT BPD NMBN HIN AM ‘OND 1921-12-09 (ern) Nun yom ;pwa Yroyn AN TIT} dsm ; PHIM 39a -ANSIN OWNTA OMavya nro AVY ;oIMID Ty! SY TINY DIN dy :nUSY AN raMaNN ANT Awana" 49/0 799 ,AMMaLaA 2 pts 801/08 yn -yNaP¥a yo IN OYPOIA NMINNH NN ronan Sy pa vray SU rad Dy" (a) my ODID 90" (N) <0 YPN wnya »D AVAIPY pINy NIB q¥VA DION MTIN 10 Jo'ya mNAAN MNT "3 BH>pwY BYSDAN by AaNA 2/96 yn jeMNaPSA Madd IN OPPOVA MVINAT AN ANON DHMH") (11.1999) 56 23ven SY >~w>UN THO NN MDI TSA NN ANA (Re pyoaY MINT MpINAD NNN wr? 87 279 BIH NP -PHINA TOW WN porswo dyad WAVTOV ATAWA ANI INP TNWSA IW NINN ny" (a)N29 pYoA MOTENA MoIdNA MPINA YAN .NDS2 IN ANIA MM NPY NOIN APIN NI by mbiow mbrwan MPrVPTIT MAD NN (not exhaustive) MMB PN ,O»PoYN ordaaMA PIN> 8. sprdiown TayD SY AYAD WY? 973, bb rony pra AT PIN MNT T72 STN AVY PT" yap OYPoVA DAI PIN? (RISO YD 88 SAAN ADNY NN ANNA prn MA wT "wT NED] ppIA NTS YN "ad DIN" Id DANN BINDY »VIND MINVTA ANIND MAP? SyI WMD IN HAYTD THYD NY" 8 ova nvdnna .nbaava onda NIN "NYAD Toy DH2" wID2 DIN APY NPNWANA NwP "Md>wI" N29 YD UNIS, TWENIDA DANA HP Sy AND wor rDIVD TYN DrsHIa NIT WN NPWA DIN HOR DANN Sy end" spmAnA mbmannn pon Now Nprpr9 99 99193 MPD AAA AB PNA PIP ONNAI yd Tayn dw» »2 ,AMBW) ARN NPIONA TodAN # ("other than competition on the merits”) "p29 “po nannn dyn. mdnanny yan wpAIN WWD 7 PIN dw On NDA TIN NOM Winn MIN NN INP TY Aw NNN 7172 IND prisnr WyAWI 90 ND w Nw NINN dw aya Aan MaNsNNN TT AW VW Mana (pra Iw WaPP 2932) som ron TYR DY AY DIN? 722 The concept of abuse is an objective concept relating to the behaviour of an undertaking in a dominant position which is such as to influence the structure of a market where, as a result of the very presence of the undertaking in question, yy 723 v9 99 MaIND TMA IMPND [a)N2V |PYOAY OMPHA INN OMPHna” :29 maya vd NAYON 9 WAN 1921-12-09 Nn 2obom Jana ynI99 AB" (4.11.99 1B OONA) 57" -MNAAN MY 3 NaYBMA (7pPN 7") 2/96 yA jNaPSD IN AMAA IMD poinioian 993 TR INO? ,A9YON Ma‘on MAN BPAY ;ADION APIA qyyON IMN? () JOP PY YayP NZI VOI YIaPA Ar yop spyb> nyton mMapIM MEIN NI Iw IK OrPOYA MIAN AN NIMaND disp yoINa Prva Yay AN AVY dyyK9 pin nyy> Sop oMNBA tayMA bw” DY AION nPIN ANP ,q2vva MBNA NMANIAA MproPIOAD AMX DYPANSY Non Yun 219m FU eT NNDIN NWN AYN ANI AND AVARAA apy OINIAY APbyA IN NBA AAA ANDIA MX MINA ‘popes prbainn pind (2)N29 999 SxeINn = prawn bya oH Sy ADD Tym Sha Ast MBO NDA dIREINT WTP vng299 YOUN — WOUN (547) 02 VaVD INy , LOVIN AIPIN PNP ‘The list merely gives examples, not an exhaustive " :Case 6/72 Continental v Commission, para 26 ECR 215 (1973) ® vd myre 3 nanan 2/96 yn 0298 "enumeration of the sort of abuses of a dominant position prohibited by the treaty Sang ona Nin (maaNA N92 %eM DIT) PODIODND Tay DY AYP disM dy 2999 NOON NION YINP NBN MBN 86 gO" :133°0 m3 Taso be AND dnsy OWN IN| wWAPNAANND (may, in particular, consist in) Tha yIwa Mon? MPN MANN T dy samypun naming Non ;AION PIN NzP-PyID DY IMBrUN (6.5.07) 7° ya MONA 9maVY '2 Tower Air 1114/99 (ON) N.n [PaIoBIMAY ATMA IN DDI AN p9Vd 7PIO wba IPD dy PNY DIK TY RY._pIna DYAIPN OMArPADMIAN OMNBNA Apr aan .npinn %95y MON IM9NY,pIOMINN bya NX May MAA mB YarpN > yNaB NOK C 280/08 P Deutsche Telekom v Commission, para 173 ECR I-1000 (2010): “Furthermore, the list of abusive practices contained in Article 82 EC is not exhaustive, so that the practices there mentioned are merely examples of abuses of a dominant position. The list of abusive practices contained in that provision does not exhaust the methods of abusing a dominant position prohibited by the Treaty (see British Airways v Commission, paragraph $7 and the case-law cited”; Cases C-395/96 P Campagnie Maritime Belge v Commission, para 112 ECR 1-1365 (2000): Iris settled case-law that the list of abusive practices contained in Article 86 of the Treaty is not an exhaustive enumeration of the abuses of a dominant position prohibited by the Trea 1 "9a pwn bon NOON PARA ASR: HPA OMAN APYD won DY TiNMN mPY pw THNY Tay dH IaTa NIP Case C-280/08 P Dewtche Telekom v Commission, para. 177 ECR 1-000 (2010) 03 9 .14.7.13) 500420 Br»pBY BYDaIA 39 {sltrengthening its dominant position by using methods other than those which come within the seope of competition ” on the merits, From that point of view, therefore, not all competition by means of price can be regarded as varonnpre aya marPNA ADBAAA NN 031K "es “Jt must be bome in mind, in that context, that Article 82 EC is intended to prohibit a dominant undertaking from strengthening its position by recourse to means other than those based on competition on the merits (Case T 229/94 Deutsche Bahn v Commission [1997] ECR Il 1689, paragraph 78, and Van den Bergh Foods v Commission, paragraph 1013 above, paragraph 157 Case T 201/04 Microsoft v Commission, para. 1070 ECR 11-3601 (2007) 24weakened and which, through recourse to methods different from those which condition normal competition in products or services on the basis of the transactions of commercial operators, has the effect of hindering the ‘maintenance of the degree of competition still existing in the market or the growth of that competition, Case 85/76 Hoffmann-La Roche v Commission ECR 461, para 91 (1979).4 YNID PD — AY Thy DIY. Sv _MPMWONA NYP 922 WH *rIPP JIN PIs YO? TWN 91 JAN VID AND ND AYP .D>TND) Dy dV DIY Pa NOINNY DID? NY Tay DI? .WW9w2d ANd Tay M2 WAT MD’ MPr”PAOA WD Dodaann pind N29 YO MIN AYID Tay DIMI SY NYBA OVA Y BMW” MINN YW MPNINW 92 mayen dy PyNd 7D UP ModNNN vyna oa w NVIIA ENYA NdTA MIM AN dY.O»POIN Dy mania nynwnn 991 DTV DY IND DIY» >79 Mow Mdwad sawn 2a poroina yo9a dv _NIIN ymin 5v 717 DY AAD D9 BA spPNY >79 voNAA Na TY ANd TayD HD 979 MIDWY MPreEPTIN Dw ny SY MNEN APPTNA NO*pIA AMY ANN AvSNA pA MIDI wany OB VIIA ONE yy YW AVdAA “nnd nna NyMINyyaNn MMVN PI AYA *INdYA PIA YP SY OMYND bi NONDd TDA "AIPIVI" AYPNY Pra TAY TN AMA dV NYP S999 IA DY NPoA Nw PUI dy VIN JPNY wnynd TIDY mbIWr Toy WWW AVdNA #.nN»I ANE—N PrYA ANN? mya AvdNA *.;1TPI92 OAMNN NPYH »I0 HON dv DINNa WY proWD AMINNAD "PTY Ddwn OY PNNA NWN NMA MD Ny ,"7—P12" Jw (margin squeeze) "ONIN MsN"a Npow NN AYYPTAA AYHY wn AVSNA ¥.OV91D MMIPI9 NWN AM NN MIN dN 12 PAA DY Syp mnAna myID AWN .I7 AMDY TWN dm SY OMAN NS VPRY MaVvND 999 TTA MiABA PIN) 19 1293 DINOIN 3366-07-11 (WN) N.N2 IDV MINNA VIAN WI Sw APN WW AINA %.n=N 5102 AYTD Ty DIN?) 919 MDW Poo dya YP Sy DIN OWT MYT 7D YAP WR ,(8.10.15) Sanofi pwn Ww37 DAY WA ONUN WN MIMPs7 FaVN MAN AINIW NYPwa AY92 Ty WwAW AINA [Pap MID mINd PRwOV dv HETNM MVD DAD NOY NON MIvdAAD H.orEr® SVN MHD _AYAd Thy AH SY TAMA MBA MBN Nd 30M oD dA AYA PION THYD IN PIO NY AYP IW ADIN MTD dy TID? 93 Dxawa pry mnUD npoDNa phon nya NIN YAODY 7.2.1 mporonnn S92" MOD IID MIAN PIN (NIZE PY 94 poromme dyn prior one? -322/81 Michelin v Commission ECR 3461, para. 70 (1983); C-457/10 AstraZeneca v Commission, para. 74 (Dec. 6, 2012); Case T-155/06 Tomra Systems v Commission, para. 206 ECR 11-000 (2011). (9.11.97) 3010364 Poy Oran jh”'ya YMINHDYA PIA | PIWD TosIn DY MYTP dM TATA TIMAP (24.12.07) 5000727 poy ErdaIn joa TMNWPAD MENW Mann pra mw Nw aT. WMAP AVIA NPR Ya NON DANA AMDN NAVIA ManA pra :TyN? Toy Iw TATA NAP (15.12.25) 500909 p»*poy nreaan TITUR dm dy TUN? Tay dws» ATA AYPAP? poowra dv waPp waTA ANN (6.3.17) 501200 b»poy BrSadn ,yoWNA MAN dy AyD Thya Ds waTA ANNA 25,DDN TAN YD ,MpyrOMID ya" AT PIN (NIZE bbo2 18 D>MPY YN doIa NWI 9993 IN 029 SY APIONT 9993 YON OTN (1) iN dy nd ON ynnd onva IN NYDN DPD NPOON? OMPA *MyNWD PYM? PANBA OTN (2) OMwIT IN NTE DTN YIP PIN .PIW AND %9d NOM ANWNAA -poiown Sya9 avMAd dio» OTN yy Ma! 2NW w mona NdVY AYUA ADIONA .poaMV dy wn --FPsNID dy Adm? PIA OrO> NPIDNa Ip9Nw nawdnA WM Non PIW ANd %9d ATANY TYA PY MD PINAY %I AY» 2019 MWA 21 YPN DIIND DY) PIWA NA DY WOWNY AT MIDa PINAY rn WENN PIV MI" - PIMDN dN PWT Q2)OMwN Nd MANN My!P a AIAN 2/96 YT NPIWA NMI YP“oY NINN pIwa OV37I7 DANN PITY 36098-05-16 (0) ¥.N ; (6.7.09) 39 NPV ,9N 12 INIW? 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MMMWPNA DON 2015 19x VTA npoand ova Wap NID MyYSNA vMadYp ~ISID HyTINd AVP NVA DY TOMB» Wo NaNDa Oy NYA MANIA ANY TnyD DYN PIO NO AMPS APAIB ANAT MN .21 HwWNN IoD TwHY NPION DoDI ND ddA INNY MeYAd DIN, 27NID y¥ad MdPIY OPN >¥M VOTOW 0a 9b aNd O2bI2 ABUTS ,2015 VOMIN wTINa ,725 TA 103, pryn 9.((24.8.15) apn NIDA PAY UMbIp °NdD ANIA DoIW ,VAIDA) OMadP MwID dv APD apnn Nw yind D-YSPA “NNN MyanM ys BYTE INN »9 ARN? 13 NBVI2 [YM MAND Soa nx pay 979 1377 DONNY VIdPA DYN TAN DA TN EN NwWEN NDwNy It NY Yad DITA Sy PWD AT MYA PENA NANI MVD 5.8.2017 OPI AMDT? ,72.-AND DIMI YN WAND IN [D>PNNI DANDY BPAY OP APA OND WEY 2 (99 25 -pyHA9 NOO) NPr’PNIDA MY NTN NOON DN 29 1919 NI (.2.N— PAWOW) VMIDIP DY DWN NID" 9D ANI? WwW 105 OYPNNI OTD apanyoa dp %9 PN—Dapip NID vIabIP DY DANY NAW MDP NNWDdNA NvPY PawoW .AYID Toy 2192972 NWN Noon NPVP I Nw (Y2 9 N9b2) ANID .104 92 Winn Tanda .PapH NID” VMedrp “VW NY|N nd 7D PIO Md AyD (sham litigation) Sap yD APPA TD NoANAY yAVP DOM PII DN Va TD (1) NYT man nVNIN paIwov NNW DAN DANY VIN? PYIA PAWOW’ Iw AND »D Or NYIDY 729 YW NON" WoT sparwpwy wmnd 1p AwINd DONT O»DIP ASI SY NIN Wapan NIN , YT WII ."PINI Nov DYPY Tnyy) DAMNIENY Woy dapD NDB DMYYA MAW IDI TD YAO WY ADIN 99 Id? -NNI»N Vinyn 59) pow 19 AYapy p72 210 pI AYN (smearing) OND NyNwN WY NP”?PID 732 NI manvn d¥ mPrPrNI AYP) 9VA NP 40,600,000-a (Sanofi) p>onwa OBp9 ,NITYA dwN> 72 ABAD =nMNn yond ATBY ,OMIAND vWD ATA The core of this strategy was to emphasise the above patent-related differences, however irrelevant for generic substitution, to deter doctors and pharmacists from the generic substitution process... this conduct fell outside the scope of competition on the merits... and constituted an abuse of Sanofi Aventis’ dominant position on the market for clopidogrel”. Sanofi fined for denigrating Generics of Plavix, European Competition Network Brief, at 8 (Jul. 2013). TOONN TA TN DVN ,DPOWNAT ONID DY AYAYN PY 9 TIDY PIVOY TWN 297 NT Da .105 ayinna nya >p dy, porpya wy prvena DION IN YNd-NdyON %9n IMYawA BVA NPE TAN DeINIa? VION ,DPINN DANI? DY NNDPA DY ANY M9 PNOWDP V9 DN ANID? VAN MINA wa ,VI92 ....NIIN IY AINA NPY? NNN DYPINA D>DApD m2 Su nyab dws Sy yonAb NOwPA SY Dy INN PoMNrT WNID2 ROWOPA SB JONI OPI INIB*N 4 DY PIT 28 my yd 12 NOD ,W NNT nbabon nara, prsyn doen 'aa NVA dy MayOA IT AN ON DANDY DIVA 97 992 NIA NW AYIA NA MamB-TAN AMINA Y AIP LIND ANWIA NIDA IN S/N WIT Man DSMOY SNAVIA DIAMY OM DDL Spann Nn AN DYONY MPD” BNY w (9.7.18) nb2bon NAN Nw 810 ON DypYONNDD 9 "Dy itps://www.globes.co.il/news/articleaspx?did=1001063332 itpif/ee.europa.eweompetition/ecn/brief03_2013/briet 03 2013.ndf* 28SAW a PIN ONY OF OMNI DINID >P bY ANY Tay DIY» bY MprOPIB 7D NAVN ID NT 106 PANN NPN Dw 1172 IY PIVA MD NN 7839 IX 9399 PIP 717 WHI? >? NVI A nyyoD DANA ApNT .DrayaPy DAMA PrYR (BYapM BD» THYNIY Senna DPW? 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(EA yd) 2017-O¥YwNA NW yang DWV APD BOISd DOWN aNd NIA ISA TPA WHIT NY ny MM>TVAD WN DPN sapAA 37a TVA .ONA 293 APA VS OMA WYN” ON (shaming) w»I> My dy S/N wo SNND T_T NN DNNd w OMPdY pawd TwRA Ww MMYdA AN wan ATMA NY D> rYS OMA INYMDY PII MWA dy ,IVNA AVIA TH dy ,%M Ww > Sew Yin MTA yy BMP NNW wav sayo npyad NAMA AM|yy AYMAN OM MMP ,PeYAM AyIb37 TWD 55.9.11.17) NPN SID OND dy 3 -pyo Tiny Yor TavAN aT SY NoUA pmpmny paw dy 2 yD 9 NAY AWN TaD Av> Yoon TINA nea JD¥9 BIA. NY DOIND AYO OTP’ DPANyD *BY_NdDD NOTA WAY DYPYA Mw MMP -PYVdWN Oyad ISA PTY 12.12.2018 DPI 114 NWA WIN TID TY 12.9199 DANIAN TAN .W IP TWN] ANN .ND NIA BPI dV YN .O»DS90 “pian pa ANNWNA 115% SY BNA WE OP PR? ,"d"n 100 >NNavN vAdIP DMPY NNW": 2017 nw o>» OPA vMdIP" TMIWN OMPYA NNWNd WA ANNWAA MTA ysWMA PNBd NWA AIMN SW YSN PANY INIWA PANN pa NNNwWAA 98% FY OND IE NY? {9 100 OMY onda” -pnna 9NIW9a OPIN) NN OID 99 19999N Twa VeNIN ,ONNTI.ANNWNA MPT2 NNW SNAwS Yin MPT. OMP-YND MTN dy Www Man yar’ non dma n9vy") 19 Navy AYA AVA (12.11.18) DFPND AYO NPT ATMA SY O20 DYPIOMID PAYA SPN) 72 4.14 NOVI? gM (IND MDA DIPPNDA parw yor” NAMM inn OMY OMYYA Nw yb 14 nowsaw navn 20.2.2019 spbabon Tw TaN bhnp:/Awww.economy.gov.il/Trade/ConsumerProtection/Documents/ConsumerProtectioOrderCorectionFinal.pdf http://www.economy.gov.il/Trade/ConsumerProtection/Documents/EkronotManchim.pdf ov * https://wwww,gov,l/BlobFolder/reports/price-comparison-commit -ol-nov-20 L8/he/price-comparison- * ‘committee-protocol-nov-2018.pdF 30‘ono mrtma om-pnna pate eV TENN IAAA aMPy BManBA ABI —newD | pew, ee me | ae | eee [ee ee norm | germ | rime | ears a meena |) | mom eee! 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(28.2.7) 501194 D»poy Den 12 BY Ma pA epyo yay ANMWAA NWA S99» AyOY MD dy OP’TTI OPAINA NID TNYNI NvdIA NINN ON pawn Pr Mvpa ,Payn Mara PMYAwN NID? NN »sy2" VAD BIAS OPISIMAA 7D WN 199 (a) |B PND AON DVN Dy HN AWA PIA NANDA NPNI OAPAd Np" 99 J) "OPPNwN BA PONY yo PAN MID NNT 93a MyANIA TN 1410 smotagnan AANA "2 DNP9D9 6179-08-16 YIN) TPIDTY MIPS 29 DY YM D"9 1/17 NYT PDD 1A wyanin >a pw MD dV WH ,[(16.1.19) 39/0 PINADY 9 PITY 36098-05-16 (13°00) Yn j(16.1.2019) ayo nnn pind (1}9a)N29 pyOAY AY NTO nN yIS dy BPD OMA DYNA THY 93MnT YTD ONY AN MWY DOMdSP NY Prwn MMD 12 MPN npNawW ANAT NIA AI NdN OYE sDOIDY MWA Spend Won — APdY pOIAN NDNd dyIN2 TINA PAY wWoM Prem Mm dY Wr? Ryn porn bY PUA MD TWND ro MdIA prs (129973) IY MPA THY w ON omynwA YUN B»p MYNUN NIA Nindy VEIAA TNDNA Soa T»—EM ,27 nypeaa THM JUPO-n7 DYNA NIpIAd SAND *D>”PON WN IMAANA pAIBHY pram xin row 3 115 16 4743 102 DIT PITY 36098-05-16 (270) 8.0 nav» ,omdrp rN MYND Da Vda DN TWA JAY? Pnnnr WA My pa py. NK PYM Dry Wan 118 Colgate ,Swnd) dxnwra ONY OPN) DMOD AMINA DMMY MMW AYN V»AdIP Na Vd 2 Hv dv DrnIMAA 9b (ATK 20-50 ; VIB 5-15) 7H1T 0.05-0.15 pa DVB DPN (cavity protection 10-2 NIN SNAWPA V~IIID IY NYO'VAN OMPwA MNwWD DY PND PIT AN’? NWI) INIw?A 199297 wy rN WII OP BPPY MNVD SND ANIM NYID yToyN Mdy39 Mam» AW WAND 119 pnp WY NPNdTNA BY NINN MTA OMPNNY OMP2 JY SMA Mdy2 OMP2 JMO” NdN D>PY MAwD pad ava PND DNAW A MAN YM NN NY M399 MyANIN >> ,vapd w TOW (umbrella pricing) n>40Nn VpON .8 by myouD vAbYP OMPY MAYA “PND roDIONID PIV AND dya rODMrT 3M NIN VMbIP 120 DPRY TON AN ,DYYPYT MNWN 992 ~PND N29 NYINNA MINVD MANN .pw 9923 OPN nnn pwn nm ona jumbrella effect NA vPANd NYYP TB? ADEA AMIN Umbrella effects” is the name given to higher prices charged by non-violating members that were permitted or caused by the violation’s supracompetitive prices. See Phillip E. Areeda & Herbert Hovenkamp, Antitrust Law par. 337.3 (Supp. 1992). John M. Connor & Robert H. Lande, How High Do Cartels Raise Prices? Implications for Reform of the Antitrust Sentencing Guidelines (Apr. 20, 2005) Amys ANA PON To d¥ MVAN MVNA NedNA MM? BIM_UA Br2vNA doIP dU UPI2 121 SDV PY TY TPT NDW AW ASIN aN 220M) HNYD »PYDN MPY>D DA YA DAN "Costco has standing to pursue its version of the umbrella theory”. Costco Wholesale Corp. v. AU Optronics Corp., 2014 U.S. Dist. LEXIS 133798 (W.D. Wash. Sept. 23, 2014). Sand yanp Yonw ~NITA PIEN Nd9A NIWA ANIA O-~PNAA M7 WRI OI WWNA VPN .122 NONDN MIAN WANA VIN —PIYY MIN 9929 (O-INN DYPY MINUN>Pa) DIAN DAD AND pPoY 2hMNA JAAD AAVNA VPEN ANP NII) ANN DPA’ DMN dU O-PANA NNO PNNANA AYO -ngvpna yy Plaintiffs assert that the alleged conspiracy raised the general price level in the market, and that non-conspirators sold their product under this umbrella at higher prices than would have prevailed absent the illegal activity... plaintiffs can establish as a matter of fact (1) that they paid more for pipe purchased from non-defendant non-conspirators than would have been paid absent the alleged conspiracy, and (2) that American's alleged participation in an anticompetitive conspiracy was the cause 22of such over-payment... this Court will follow this line of reasoning ... and will allow the claims against non-conspirator non-defendants. Inre Arizona Dairy Products Litigation, 627 F. Supp. 233, 235-236 (D. Ariz. 1985). DAWN "The overcharge damages flowing from purchases from non-conspiring rivals are based on the same calculation that must be made for damages flowing from purchases from Defendants; that is, the amount over the price that would have occurred in the absence of the anticompetitive conduct... Nor is it impossible for Plaintiff to establish with a "reasonable probability," id., that Defendants’ supply restriction caused a price umbrella; that is, caused Plaintiff to incur an overcharge when purchasing IVIG and albumin from non-conspirators...the nature of Plaintiff's injuries caused by the alleged price umbrella have been recognized by other courts as "antitrust injuries,” at least under federal law. See, eg., U.S. Gypsum Co. v. Ind. Gas Co., Inc., 350 F.3d 623, 627-28 (7th Cir. 2003) ("A cartel cuts output, which elevates price throughout the market; customers of fringe firms (sellers that have not joined the cartel) pay this higher price, and thus suffer antitrust injury, just like customers of the cartel's members."). County of San Mateo v. CSL Ltd., 2014 U.S. Dist. LEXIS 116342 (N.D. Cal. Aug. 20, 2014), >n@oA WPA NaN OYD»PND ANY dy THAIN AyMIIN 9932 NSW BrPNIN IW PIVEN NdsW 932.123 SDONY Tad MOXY MY PAIN, |S MWANIN pry AAW YN TMyyd ONP2 AN PUA MPSS ©) .7>p MYA MNSIN’ AVNANN Pr NAy wr ,pren 9922 BYYND smdy9 OMAN DapAA MDA VixPY DANI MWD? pa DaID TON OrTTY DI AYAN Ada PTY MadA vowNA 2 -PIA HIPAA FPIwNA vPIN MpNI OPN HyAY OYWY DTTY ~P dy [A] phenomenon such as umbrella pricing is recognised as one of the possible consequences of a cartel, in certain circumstances... market price is one of the main factors taken into consideration by an undertaking when it determines the price at which it will offer its goods or services. Where a cartel manages to maintain artificially high prices for particular goods and certain conditions are met, relating, in particular, to the nature of the goods or to the size of the market covered by that cartel, it cannot be ruled out that a competing undertaking, outside the cartel in question, might choose to set the price of its offer at an amount higher than it would have chosen under normal conditions of competition, that is, in the absence of that cartel... a loss being suffered by the customer of an undertaking not party to a cartel, but benefiting from the economic conditions of umbrella pricing, because of an offer price higher than it would have been but for the existence of that cartel is one of the possible effects of the cartel, that the members thereof cannot disregard... Consequently, the victim of umbrella pricing may obtain compensation for the loss. caused by the members of a cartel, even if it did not have contractual links with them, where itis established that the cartel at issue was, in the circumstances of the case and, in particular, the specific aspects of the relevant market, liable to have the effect of umbrella pricing being applied by third parties acting independently, and that those circumstances and specific aspects could not be ignored by the members of that cartel 2aC_ 557/12 Kone v OBB-Infrastruktur AG, paras. 28-34 (5.6.14). pon pynnd ADIOM Man AAA wayaN ON ,ANNN OMPY MNVIdY ONOPA PIA NM yPNA .124 D> pun minwA PIV d99 Sy ADOVA wMbIp WIN DY DapIN NIZA ANP »> Non MPAA, MIRA DoPY MAYA *PND NPY? OD ANY DapD NIP WT ON OT PA D»PwN MNWH 92 “PND avon 12959 4X apn NIwN dy MIYONA Yoxa by PIN y92 OrPANAY DVD ,omrP MINA MaVNNA NDP WWD , Taba wad DY PIWA NM 799 T MAIN Nw) PHA WIN APA APA MDW Aya yy” YONA WWW PHA AN syTOINY MARIN OY NopN MYAINA NY yaND2 PARA vPINI pwn 9 Dy manynn ”nmna ym A pL (OMI MASI PI NY) OMY MINWE “PND MY? WD MAMI .125 Ta MINd) MYA »PPIOWID THYD IHD JI BIND TVA 7.192129 (Society) MANA THD23 97S 93 any maa pnd Wadd ,"NdyN NoNNW PIWA SPYOA PY ATP? NVVAY DOM (OW PAD DY SUNT wa IN OAV WA_NIN ABA FIPMM MINA AMAA NAS TRA ANP meP M31 20 29 7abID NoYNA ANNA NYT TNA (damnum emergens) O~PNT NyP yID WONIN PUN 126 Ay A PY MDI’ TAAdTINAN Maow ,NT OP PYe ASIaPA TAN? AIA PapAA NIN npn spabyninnn ANvYa PAY w> OMNY OPYTAN DBI OBIDVA .PIA NIwWH NWN TON vaya noMd OrvPpan’—M adwa WYN - PTA DYIP OPN OF TN MPV DYYP ANIA ANABY sand Dyainn pay o»avA yPAN ns Yon) wanyn doy dva -MDNA ATVAI AyD WoPNA NoIND yo MWAMAW 2” PH 127 DWON DAW OMDTWA TWNI TNIN) DMYY NNWNA PINON INI DWN ANY) NPMDNOMPY MNwD TNWN JV 92 NP ,OMPY NNW DWIN PA ANY 1 A PN ON WN ,299 D»PW NNW WIT NW serynn man Tosn wm deadweight loss Ova Da YP NPYBIN MPAID PHA ANY MIN OM” Tucrum) Sapan mp7 ny NON TW TTY a¥M NOW> dea MIMY MIBIN oPAD oY Any MwdAA MAwAN wn IW WH IA yO NIA Dw AN Tow Sya_NIN AY Pw .(cessans P7OYINIA IANA TAN HAY OrdNDID TR MANA YD A OM PLINY 128 The Commission welcomes the confirmation by the Court of Justice of the types of harm for which victims of antitrust infringements should be able to obtain compensation (Joined Cases C-295~298/04, Manfredi, [2006] ECR 1-6619, 95, 97). ‘The Court emphasised that victims must, as a minimum, receive full compensation of the real value of the loss suffered. The entitlement to full compensation therefore extends not only to the actual loss due to an anti-competitive price increase, but also to the loss of profit as a result of any reduction in sales and encompasses a right to interest. wa? ‘Theon van Dijk and Frank Verboven, A practical guide to computing cartel damages in private actions(Prepared for DG Competition’s Expert Workshop on the Quantification of Antitrust Damages, Feb. 26, 2010), available at hilp.//ee.curopa eucompetitionsantitrusvactionsdamages/vandiik_verboven pdf 34Commission White Paper on damages actions for breach of the EC antitrust rules (COM (2008) 165 final, 2.4.2008) sec. 2.5 smbyn DyTand) M>Na1 MnI2 AMD YAN PAYA PHN pw A BA PUN MNO WY 9 dy qN 129 ‘by AYP NOT MyaINA AY awa ny adwa MyaINA yan) ND ,(199M2 JY BPPY MNwD dv O-PAIIA spy TAVAINA TAY IND ,ANt OY. JY D9PBA No Aa aNd NV AY adva YY MANN AyIapA NN a Dany Jo ,TaaM vawnn wa NAIA» MYRINA WIND 2 BWIN pA APNY _MDNM MINIT N-yD APIO PAY OPN D1 DN MYND PAS Mt PY AWN = OYYUA MAYA > ND WY OVIIN DP WN .130 PONY NON 99a YPN NOW MBN DdIy ay IMI T2277 ND PapHN Nan yM9 NON DAW NOIN NY” NDY , 120 PY MDVD WOND PR OdIN MID OB DY PAID RIN PIAN MPANAd bom) TT an (but for) NopoNY ObIN ay! NN TAN NBY »! 9393 HI AO ND WIP .79¥9 MND ODN P90 HPA Syind maven yd ANA 2019 Ya PAW WI" /MPoY Daan WHI” NID MyANIA WwW NN PY 131 >MMINN dpwA APY dY ANNA AMM Hap NIgMHY TY 27 yor NP» ApH NID ny yasADD (run off overcharge”) »myANn-by OPN TW Pry N HarpAa.OXNAA ITY orn yay aya pa AMY ANAY OMNIA NNT AN -TNY FON OyAINA OVER ANN Y MadMINOA 132 apn NDn OMAP ASIN VID OWIN PANY ONVNP? ApH NIV Myrd PA Nd AWANIA von MPOPIAM YaIIA WOAA dy AYOVAA NN TWRAY POINT a9 TNA WEN AY THY? maNwID NYYNd ton MOT SeWA OYA MwA “PND dy NaN wp? Na Meoun APAMNA Dung G20 manwn) yon Maw dy (orP20n OrINYA) ODN *nda OAINYD DY MSVA ATTY 2099 ManwH) B» IN MIND dy (YAR AIAWR) OVA MyDD NVSWT AN any PO Mvy? 2/96 yn) mIANNA AYMAN YAWN PY NPOX THs? DOI dv en>NIA MDa “PIN SW VOYNN 133 a DRAW MIPTA 366/99 (0) 9.0 5 (4.11.99) 115 1D ,D” Ya TAVAAN MYT? /3 Or»PDY BrDBIA DY MIAN mana po ANY OM MINN 0922 VIDYA NNT ,2"AANA ((21.2.02) 30. 'D PPEWAD TAN prTaynn OInna YIP TD AYAN WN’ AVINA IMA V9VDN 2 Yap 72 .OPPoY O>am2 spn. ST "Before addressing Dr. Teece's report, however, a few words are in order about the role econometric models have come to play in antitrust class actions. In industries involving varying products and complex pricing structures, antitrust plaintiff’ have in recent years trended toward presenting an econometric formula or other statistical analysis to show class-wide impact. The idea is to account for differences from transaction to transaction by assigning variables to certain conditions relating to the transaction (e.g., product features or type of purchaser) or by establishing some type of correlation between product lines or purchasers. Several courts have accepted proffered econometric analysis at the certification stage. See, e.g. In re Dynamic Random Access Memory Antitrust Litig,, 2006 U.S. Dist. LEXIS 39841, 2006 WL at *9 ("[T]he analysis and methodologies highlighted therein -- the correlation analysis used to compare net European commission white paper on Damages actions for breach of the EC antitrust rules, 7, COM (2008) 165 |ltp:/eur-Lex, europa eu/LexUriServ/LexUriServ.doturi=COM: 2008:0165:FIN:EN:PDF. 35pricing data across products and customers, and the three damage methodologies identified by [plaintiffs expert] -- have been upheld by numerous courts"); In re Linerboard Antitrust Litig., 203 FR.D. 197, 218 ("Plaintiffs in this ease have advanced econometric models to be used to establish impact. Plaintiffs’ expert, Dr. Beyer, has presented two possible means of assessing impact on a class wide basis-multiple regression analysis, and the benchmark or yardstick approach, which are methods of showing ‘antitrust impact by generalized proof"). This order agrees that such methods, where plausibly reliable, should be allowed as ‘ameans of common proof. To rule otherwise would allow antitrust violators a free pass in many industries. In re Graphics Processing Units Antitrust Litig., 253 FR.D. 478 (N.D. Cal. 2008). vawnn spa Pod OMUNMIPN OD MyYANA PHY IPP POA NMwENDA MD9NN DY JaNvNa .134 DP vAINT D*DIIN DOP dv IVa ABANI WANA "Accordingly, it is clear that statistical and economic methodologies of the sort advanced here may be employed to establish class-wide impact." In re Optical Disk Drive Antitrust Litig., 2016 U.S. Dist. LEXIS 15899 (N.D. Cal. Feb, 8, 2016). spnna BM DY OROVAP WAI TY YDIND Oa FAIA DapOA NID Nay AMYNY AYDENA TPNN 135 stand-) »NoYy ANI NY ,OYYW MNWNI 7217 WRI .OMMIMp? Iy¥ DYYY MAW Dw NNO? by ory mnipd) oROWPAD (pass through rate) Subs WY NX Ox TUM PENTA (alone Sw aN pNad TAT ASN ANNA NYT MN .(Or»*PY DID») ONDINA DY ,A-MMp>d (MYamIA AWwsd OYPNDN yy MPNNDPA NPYA Pwr sASAPA Nand Ow PY dY NTN) AD MAN MadITIND Ndd1s WwRNA NYA NO VYNA NYTA NNN .136 ayy NaN DIN») adYd pry NIA PHA DY PT Mm -pINA WDD MPON AVON .10 Snwa OYYY NWN MPW > 99.1199) NID WD JY PHT Myanmn evn parnwon WN .137 ven oyAD OMpAD snTAY na” WE DIpBN NaN THN NoBN OVD MVD IAP D>Y :npyon NowbN PNA FAA TNs) sMMAAA PY MAY yaNA PITS Mt "NoMdNA Na" WA Pax nagAw opT sd NTI ND. WP OYPND PapNn ANN Non AoW PIN NNN osya (mapan xn pen DPD1Y2 AMI9M OPANN Ny M379 , 7 PI9yN DY MAINA NN IV Ios MyYANIN WYN ANAND .138 JAIN ANA .IN IW? BYP MNwWO ~PAD MIDNA HD APN NIDA 13°09 1931 yD MyamA >osyn Tay nav WP DY WaPP2 POOP py y199 NWaM pI 9A 11 36inp SNqw2 Jno» IN MYAMAD VMI SID WI > 99 OVD PUNT OVER NSAP dy 139 EMMY .OM INN MMP? pIWHI DA TN NIWA ONIN? IPA DYAdP ANID NID YawoW DA ANI WAN NI OPP? DPRDD AYN Toy 219920) 2313 TVA OPW Oyo) DYN MyANI DY DPN IND WP NI MYA NN wIsy NI DONA NaI WA WDA PY MYT MyYONa ..PIWWD NX Mow APVBA STYL ANY .W9p IDA TIANA AN ANN ha BY N2-vA*D AMvAN FPA NVM dypan 79 APD UD IN 1P9DdD APTN 99 PRY A ND AYPAN DY NAVAN PTD ON AN RON .DMMINIPI? APY IN 919 MYA AN Yada WH AAW , IBA PIPY NNW ;P> ana ,poronin 992 >P dy THaVA TANMN DD ANT AYMAN MwA YX OWPID ONY pa “PIAd WHY NDA TPAD pt AIVd TPVP OD OMMPONT DMD P91 ND FR MAND NVIA'OW NIA gN PPA WyDdIN MMA APIA NVI WN “ppyn IsNY pMPPa YA MY*y VMN nM ANN PIMA dy 47 "0 ,Dry9 DNM209 6179-08-16 ¥.n TWNd TayMN DW TON 9932 TR, MAMI OMPY MMM WINDY ASTAP MAN ON D»MpY DVI .140 bnyh NOON OMDyY PrVD,OMYY MND Nay ANY ww 12 plvA_ATIANA ANA dN AaYD WHA ,(D-PPYN DOIN) PMINIPY DY PII NN ddAD PP 9299 141 J12.NANN Ta O»9299 TOP MdIVID IN TANK MINWA 49 PNINIp? dy dadw NIM OVD ,9n9 NIA dnp pra nyaM NdoN D»»9y¥Nn MIN ,OW.D-DPY DVR NAN dV MIN MdrIa BD pw>" PHIVI ADU IADB MIND YN OMDIDY ,D>ED NYY XUN MIN Nd! O» *dyO0 .D>TIDWD 29UN ANPYd DAD) DONPY DMDIY TRI TIMIW TPNSPN MSI UNA DY DWTDY NPN 2DUNT AN NITY WMA MIWA MANNA MINA AY ,DNIPN OVI NYA AANA 2DUNa BUNTY MPP NON VN MINS NI 739 ONZPNA ANNY OVI TDA AYSINA 'MND PAA AV_IDANND TI 19199 +P 9 PTD WN AVS BION OPTTYA wean We myVIINI Jpxrwa ux ONY NdN D> »yaND didn (overcharge) 2VNA DY TOWN PAINT» |B 303 ban ANY OMA API MPY "YN Sv Anya) Ow”? OND ,DNdpPNd yh AMUN’ OND DY nowA mTaY »»an AYyIND pon» ,100% Sy AWN dyda TWA) PHA NVI >) ONIWDP? aduNa BUTT WH MPA DY 910 INA 7A (cost D»NIN) DONA - TYP WWI APIINA 93 pa NVI NX per PRA dndAa PIN vowNAN Ta (9.1.17) N31 ,17-19 /D ,PrOWIN pry) NIM WIT APY NN DPV) ONIPNT (OPO nN paynd MNT DY ROA MI8>Y MYNAN AWAY IDV ADAY > INIP MR WPA AbNY? AbD ,"PYA Duby" Sy AbNYd prin INA AVP Nt ANY navn pI IN mown by pawn nt pay wo AayaINN Ady Sva Maw 19299 MYA 9103 NVI ANN YAN MYT MN MONA N APN? OMAN WAM PTAA ... PY» Me¥NT nino” (>a AbYNd ANY JNM) %3b3n PIA NINN 7D MPON TY 2399 Mm? TOVDa INWIY BAY NIWA MPI MVD DY DIDI Wad Mp DHOVDA DIA sbabon pia 137 9U (29.1.17) 6 My ,ndian BP *oyOM9 /2 PPOYI>) 41838-09-14 ¥.n £9999 ON 79 PNA TPR (12799) PIA SubAY NOM N¥TINA TAPS pLaN dy ¥M9d ONDA aWHNA 142 “Passing on monopoly overcharges is not the exception: it is the rule”. Robert G. Harris & Lawrence A. Sullivan, Passing On The Monopoly Overcharge. A Comprehensive Policy Analysis, 128 PEN. L. R., 269, 276 (1979. 37NON MANN NY PUA DIDO IPD — (NDA) DPN (C*NINP) O-PY D>929) PI PIN) PUA ONAN 143 ayn pond mavPNA MoI ay Iw ,OXERA man 9y M7 16 "YA HONEA INPIOA PI :pR aw NYMA MPN AYYAY AYPN The question of pass-on does not affect the calculation of the overcharge in itself, only the distribution of that harm along the supply chain. Oxera, Quantifying antitrust damages Towards non-binding guidance for courts, ‘Study prepared for the European Commission, at iii (Dec. 2009)? by maw by 100 Tina X dad pawHPAI 100 dv PY AoWAPY Wm YAO IN vMbIP OX 9999.72 9 pion npIdN TT .ONoWNPP 100-X ;qppyn wnaxd X) 100 rN dowA PIA 910 y2AY) —PPY 3292 pun dv wie NX MwA EImpdn BOI WW D-H py OID >P Sy MANN TD NYY AYPAN WNIT NVdNA MM 5.4.16 DVI .144 >poy dain *pw 99 DVO*PY DIO TyMAN TDW SNWA w > VAP TOY NoSIwA ‘a> AIDA Sy SSN PIPYD POOPY to9M NAIA /2 NI PDIN 46010-07-11 (IDV) ¥”'N) OMEN MaNIM YAdDW AponA pay siOMA NONVA TA NN BY Odo vOVINA TA (5.4.16) 37-44 °D a’7VA DNIWIA TONSA (44° ,O) "pprtaa TONA MN Yam qepyA JANA >D-SNAWIN PTA API PNK Pad TAMA Ilinois Brick) ow» wy3099 Tor 9x2 WON pra NYAN Mot WS9 AWPYT dN 9999 ,a"ANA 145 pono , Illinois Brick nabn Sy AvP mapa NN»p OdIW (Co. v. Mlinois, 431 U.S. 720 (1977) SHAN DY YA wOVIN Ma 2992 DPD TMD MN NWA “#.DINNa D>nBVIA *yD 9D A MPAA D> WANN OPIN IPIN "AANA MUMMAAD Ma 12 w9 (Case No. 17-204 Apple Inc. v. Pepper) NANA DOVIA Ta WR ONwYPNA *ND DIP NIWA .DMND-T OPT 9 Sy Mand pPpY M2929 pn9a payor MWY THAD abM YoIPA »PBY 22 PONY TH ,DpyA DynaIM DY maT MVPANA eA DA DyyA MW THID2 DPPNWA WN Atthis juncture, however, the IPPs (.2.N- o»S»py Dyan) have presented a sufficient theory and methodology to permit them to attempt to prove pass-through on a class-wide basis. In broad terms, plaintiffs have proffered evidence that in competitive markets, economic theory (supported by empirical studies) consistently predicts that pass-through rates will be at or near 100%, The IPPs assert this is because in a cost-declining market, competition will generally drive prices down to costs. The IPPs offer the explanation that if a firm tries to keep a cost reduction for itself - to increase margins over costs - other firms which also receive similar cost reductions will lower their prices (passing on the cost reductions) to siphon market share from the firm(s) which do not pass-on costs reductions. As the IPPs put it, "[tJhis is the nature of competition,” and in hntpes.europa eulcompeition/ntirusvactionsdamazes/quantifcaion studypdf ” pat? Herbert Hovenkamp, Quantification Of Harm In Private Antitrust Actions In The United State » The Illinois Brick rule was based on two premises, both of which today seem quite questionable”. itp: www oeed org/daf/competition/ QuantificationofHarmtoCompetition201. pdf : 707 *pU> O13 OECD -n qaVE> 209 may ITD OD OMY? Dry (3) NAN OMY DVI PI BAD PW) M PX (2; HMw pryn MX TND9 Yrv () ema HNP 02189 ARDY Map TAD SnyNA MON DNVDy ON WAIN NI OY OrINYD (#) NAM ND O¥NYOT OY MDP Maarten Pieter Schinkel, Jan Tuinstra & Jacob ROggeberg, IMinois Walls: How Barring Indirect Purchaser Suits Facilitates Collusion, (Amsterdam Cr. for Law & Econ. Working Paper No. 2005-02, 2008); Edmund H. Mantell, Denial ‘ofa Forum to Indireet-Purchaser Vietims of Price Fixing Conspiracies: A Legal and Economic Analysis of Illinois Brick, 2PACE L. REV. 153, 217 2.157 (1982), 38competitive markets, profit-maximizing behavior virtually always passes on cost savings in full into lower prices. Inre Optical Disk Drive Antitrust Litig., 2016 U.S. Dist. LEXIS 15899, 63-64 (N.D. Cal. Feb. 8, 2016). Fray ydyA wow sya yan ,(2005) 718 ,701 (5)097"'9 ,0999 TANIA 3H DIDNT 2616/03 NVI 146 DDWY POY 2 “PY? MO MAAWN - YaINnY OW ND DYAMIA .OOPY Oya AYAN MII NININA Sy YMA DAW AW TAA PIT NN DIDa - AKIWN DID TDD Prd AVN NID. MINDY VIDNW, EBVO NTNNA TDP YPIyN Vw WI (POYN II MPY N23n) PMIMp? mor ynnd Not NY AVANT ANIA DYPYNN WynY pO TY W »nyAV MYO dranny yon BY POYA Ta Ny JOY MIND SYA VP 9D NIN TT PIAA {word 26-9 TAP NY SY Tiny’ AMI NDAL AMMA wa IN ADUID NA ANIPA AyaAnn WR WP AN ARNT ANI NAN Da yp AYann-ansa NvpIa AWN NAY) pa WANT PRY TaA Yay IPA JIS» MyaINI NON WN TIPAND JN) MMPI dy dad1I MINDY Yon pra Int 0739 13 INV? O*POYNY (Opn NN? Pin AN P17-29 ‘OND NYS ..ONTUNA 1990922 DVANYAA MNIP>A NpNT oy) TAN TAY PENIWN AIANN PopPrPIV PAV PN” MMA MInvD yIIT INOW OMATA VIPS PR NDVI MPNY PA ON DA: NINN day PIpwIID 926 ann PD AN NINA 1920 JON - MNPIN VPs 97739 - "AYIA" ON O7aN Tt Prd VAN NNNY MINA AAN AX BND WOM va .oTPdy APnY PL pI Wand DaPy Dry Sv OMIA ANI NPA N22 NNN NVR .147 Dv On THeyD NIV WADoPYT 4opoy darn PY MyPANd ONrA ND_PIT NoTPNA NPP IN 2014 DyyyaMD }9B INI .120N 7727 OM ONWNT D-NY 34 OMY 61 Dv TODD RA AvP &.ANIY D°o*py Drynaxd MyMaN mat w Pad don yaps T2ONA MAT 44 PDA .ADOPPTA DD "Actions for damages can be brought both by those who purchased goods or services from the infringer and by purchasers further down the supply chain." DOTPA MN Wand 91D? MINN PY 9bY 199399 ,PIPNd 1192 ,AP_PITH NyaVP 34 mya 148 [alnyone who has suffered harm caused by an infringement of competition law by an undertaking or by an association of undertakings, can effectively exercise the right to claim full compensation for that harm from that undertaking or association. (a)12 p»vayayp , The Passing-On Of Overcharges :mam2n NN NWA (51 "By) ADSYADOP P49 149 49> 9389 NYA DN P29 PY? yn99 NIT ON PI M¥P99 NDT PI IOY >> “Compensation of harm can be claimed by anyone who suffered it, irrespeetive of whether they are direct or indirect purchasers.” yaad Do1P ‘PB NPIN 2 p”A ,yaIP INDIRECT PURCHASERS yam>v nPop 14 -pyo .150 D> PND AMdyd ANA MMA (2) AANA wT AN MIN MyANIN 79 (1) :NdW ON DHpy OyAIN PANIOA AN WII HPN yaINA (3) ; OPW OPVRD Directive on certain rules governing actions for damages under national law for infringements of the competition law + provisions, http.//ec-europa,cu/competitionantitrusvactionsdamages/damages directive final_en.pd 2 yn SUP *DY TN RUA WOTPNA.MDSOM NNVYY TYTN Mad nN OorODY OrDTpIN NDB IT vIND # tp. #ee.europa.eu/competitionvantitrasvaction documents him] 39[dhe indirect purchaser shall be deemed to have proven that a passing-on to that indirect purchaser occurred where that indirect purchaser has shown that: (a) the defendant has committed an infringement of competition law; (b) the infringement of competition law has resulted in an overcharge for the direct purchaser of the defendant; and (©) the indirect purchaser has purchased the goods or services that were the object of the infringement of competition law, or has purchased goods or services derived from or containing them. adadw poy Daan ‘PUY NPIN W NON ,Droypy Doyagwd pan mdr ww Tada WNP PSTPNA PTY 151 dor papnn NIA NaPOND PY Ov NDY MDINd MIS MyANI ~ayPNA PTA dy wT Od yedy NA TPAD Yam DYD NIN YIM 99M WansA DP DHOYPY OD W -WWND - ME Paya MAAN ATP 152 TaD AYTMAND IANA -ATIMD MyAIAL IW yor aa O°" aA yonPNd YP? 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OR SY MBPAN AW JiMNN mayan Dorp Paya TWA Ayana DOP DY OVID DY MVAN TNA API IW SAP TN OPW D-NPY DAD DY MIPIN FayainA WNd MYPANY adV2 OMIYD BN y2v PIN DWM NAN AWPAd MPA Ayan IAVNI MT NVoIA MYM dV Td WD vpIanA WHAM wD Dw IPNIA Dupin dy OMNI W OYD AI NTS) AYAN wIAy OWPANN ONT NON NNN 9bn PANY FO>TTEA DVI vaVINN 5a SY IAM yor NAA NDY IIT TD Po vIpI» JENA prays yj PPINA AyPaNn py’ y_MNN AYN vow ma 29> NAINY APNAN wprann (19.6.05) 8 yay java >oIbN sn NaydwN 73.09 NP 23708/02 (rN) NEY (279) Sn j WON -PPY 22) MYPAN OY PY 992 MYPAN YIMIN AYN» MyPan wIdY TA NIN .153 nvdinn 92 5¥ MyPANA NAN AER TTDI (29.1.17) ,AOBA BP ry¥OH 2 pr~wD 41838-09-14 6298-09-15 Yona 2OVNA PUTTY ,MPVN waAYN WHY DW NMA pdUN SY SMA MWA JAMIN BA TTVD FoIp Ayana 02 Py y39N PY yar MAN TIM TWA NAA Wa /9 ANbYA Una Siemens AG /2 /nNy yopIY 4768-09-13 Yn) PY WY aod MyPaN WOW DDWNAY IPA VIM WWI MNY NYIINA ONY O29) WW MWAN TYAN TWN Wy .154 tnwaw '0 7 disgorgement of ill-gotten gains) ya NY »pIN Non AMM AW PIN dy NdD AD wy) MwA APdINA pa NIA APIO YIN WN AWN ANY AE WPS (pnd .NwMD NB ANIBAA APD (8.10.15) 98 "0 Sanofi ’3 19793 DANDIN 33666-07-11 (919) NT ; (2011) 68 "OY ,2AN9 12 319M 10085/08 pom Nd wD nnd gry (Sainsbury’s supermarkets v. MasterCard, 270 (July 14, 2016 02 187 NIN NNN D9NW 999 MAY NY JW 92 NI ,ONA MS99 WAH D2 9919 01903 JN MWA NyIINI DV) NOIN NYY 739 OIVAY PRY PWT ODI NAN NN TNND COPY Ora DY AYANA MDa PINAY wD TDW DV WONN DID 155 DopyM oxbm apn nian nnrN wa (overcharge) MPA 2 DY raVBN WY NSTSBA NYTANIND dy 156 99207 AMPA DRAIN SNAP »9 ANYD AYTA TMH 281A ISN Dy 799 AP IN NOD aD WA sind poxnwon yor] TANTD AWAD VNAI_OMMPY IX OPW? 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