MOSCOW, February 22 - RAPSI. The Supreme Commercial Court refused to review a lower court ruling that major food producer's branch violated competition law by overpricing its milk products.
Wimm-Bill-Dann (WBD) food producer requested to reconsider the lower court's rulings which validated the watchdog's decision.
On October 5, 2010, the watchdog, following the consideration of the case regarding Wimm-Bill-Dann's branch Siberian Milk (Sibirskoye Moloko), ordered to bring the milk release prices into line with production costs increase and prohibited any further overpricing.
Pursuant to the December 2, 2010, resolution on the administrative violation, WBD was to pay a fine amounting to 2.059 million rubles ($69,150).
WBD submitted to the Novosibirsk Region Commercial Court a lawsuit on cancelling the decision and the order of the Federal Antimonopoly Service.
Earlier the watchdog reported that the company reduced the prices for its milk to 24.8 rubles ($0.83) and paid the fine in full.