Our Business Crime & Regulation team represented a defendant in the SFO’s Operation Holbein prosecution of pharmaceutical companies and individuals in relation to an alleged price fixing cartel. This was the largest ever SFO prosecution to date. The joint cartel defence team, of which RJW was a key part presented a legal argument as to whether cartel behaviour prior to the introduction of the Enterprise Act 2002 was a criminal offence and could be prosecuted as a conspiracy to defraud. The defence was successfully argued before the House of Lords. A subsequent attempt by the SFO to amend their indictment was successfully challenged in the Court of Appeal.