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Steinway Statement on Antitrust Investigation in Switzerland
By: PR Newswire
Nov. 29, 2012 12:45 AM
WALTHAM, Mass., Nov. 29, 2012 /PRNewswire/ -- Steinway & Sons, a subsidiary of Steinway Musical Instruments, Inc. (NYSE: LVB), today announced that it has been informed by the Antitrust Commission of the Swiss Confederation (WEKO) that WEKO has initiated an investigation into Swiss dealers of Steinway & Sons and into Steinway & Sons Hamburg due to alleged violations of unfair competitive behavior in the distribution of grand and upright pianos. Steinway & Sons has so far no concrete information which competitive behavior is the subject of the investigation and is not aware of having violated Swiss Antitrust Law. Steinway & Sons will cooperate with the Swiss authorities to help clarify the facts as soon as possible.
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SOURCE Steinway Musical Instruments, Inc.
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