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L’Oreal Hungary fined $636,800 for misleading ads

Hungary’s competition watchdog GVH has fined cosmetics maker L’Oreal’s Hungarian unit HUF 150 million ($636,800) for misleading customers about its products, GVH said in a statement late on Monday

It said the ruling was open to appeal within 30 days. L’Oreal in Hungary said their spokeswoman was not available for comment.

GVH said information published by L’Oreal Hungary in the period from Jan. 1 to July 18, 2007, about a raft of cosmetics products had the potential to mislead customers. In its ruling the GVH said it had also charged L’Oreal Hungary HUF 1.17 million for procedural costs. (Reuters)