EPH, EP Investment Advisors Fined by EU for Hampering Probe
Energeticky a Prumyslovy Holding AS and EP Investment Advisors were fined 2.5 million euros ($3.3 million) by European Union regulators for obstructing a 2009 antitrust investigation into the Czech electricity market.
The European Commission said the companies failed to block an e-mail account and diverted incoming mails “in breach of their obligations to cooperate” with regulators during antitrust inspections, according to an e-mailed statement today.
EPH will consider an appeal to the EU courts after it has studied the decision, said spokesman Martin Manak in an e-mailed statement. EP Investment Advisors was previously named J&T Investment Advisors, the EU said.
Regulators previously fined Suez Environnement and E.On AG for breaking seals attached to office doors during separate surprise inspections. The EU can fine companies as much as 1 percent of yearly revenue for failing, intentionally or negligently, to block an inspection or refusing to produce evidence during a raid.
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