LEMMINKÄINEN CORPORATION ONLINE RELEASE 6 OCTOBER 2016 AT 2:00 P.M.
THE COURT OF APPEAL AIMS TO PUBLISH ITS DECISIONS REGARDING THE DAMAGES RELATED TO THE ASPHALT CARTEL ON 20 OCTOBER 2016
The Helsinki Court of Appeal has announced on 5 October 2016 that it aims to publish its decisions regarding the claims on 20 October 2016.
On 28 November 2013, the District Court of Helsinki issued its decisions concerning damages related to the asphalt cartel. In line with the decisions, Lemminkäinen recorded approximately EUR 66 million in expenses in its 2013 result. Of this, approximately EUR 60 million consisted of damages ordered only to Lemminkäinen, Lemminkäinen's share of the damages ordered to it and other asphalt industry companies to be paid jointly and severally, as well as interest and legal expenses related to the damages. This amount was paid by the company in January 2014.
Lemminkäinen appealed to the Court of Appeal against all 35 decisions of the District Court of Helsinki, in which the plaintiffs' claims were upheld. In Lemminkäinen's opinion, there are some judicial aspects in the decisions of the District Court, where the conclusions of the District Court differ from previous legal practices. Such judicial aspects are related to, for example, the questions of prescriptions and value added tax.
The Finnish state and 22 municipalities also appealed against the decisions of the District Court.
More information: http://www.lemminkainen.com/Lemminkainen/Investors/Lemminkainen-as-an-investment/Asphalt-cartel-issue
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Lemminkäinen is an expert in complex infrastructure construction and building construction in Northern Europe and one of the largest paving companies in its market. Together with our customers and 4,800 professionals we employ, we build a sustainable society. In 2015, our net sales were EUR 1.9 billion. Lemminkäinen Corporation's share is quoted on Nasdaq Helsinki Ltd. www.lemminkainen.com