From
TechDirt.
In a case brought by Nintendo, the EUCJ
has ruled that the European Directive on the Harmonisation of copyright "is designed only to protect the copyright holder against acts which require his authorisation" and "
that the legal protection covers only the technological measures intended to prevent or eliminate
unauthorised acts of reproduction, communication, public offer or distribution, for which authorisation from the copyrightholder is required. That legal protection must respect the principle of proportionality
without prohibiting devices or activities which have a commercially significant purpose or use other than to circumvent the technical protection for unlawful purposes." (bold in the original)
In short, circumventing DRM might be legal if it is not done to infringe the copyright holder's copyright. And sale/distribution of DRM circumvention tools might be legal so long as they are mainly used for purposes which do not infringe copyright.
The full ruling (in English) can be read
here.
Other European Languages are available.
NB I am not a lawyer. Do not rely on this message for legal advice!