ECJ: “umbrella pricing” effects…the rain falls outside the cartel

On 5 June 2014, the European Court of Justice (“ECJ”) ruled on the so-called “umbrella pricing” effects – namely the voluntary or unintentional setting of the price by the companies not member of a cartel, at level higher than they would have set it under competitive conditions –  and the right of the victims of such a market distortion of the market, due to a cartel, to obtain compensation of damages from the members of the cartel, regardless of the existence of any direct business relationship with them.