Press Release - 28/09/2017
Edwin Coe launches class action against truck cartel
With the news of the latest fine for truck manufacturer Scania for participating in the truck cartel Edwin Coe launches class action against truck cartel.
Edwin Coe, the UK’s leading group action litigation firm, is leading a group action on behalf of claimants seeking damages from truck manufacturers which entered into a fraudulent price fixing cartel.
Five truck manufacturers, MAN, Volvo/Renault, Daimler, Iveco and DAF, admitted to the European Commission that they participated in a price fixing cartel fraud against purchasers of their trucks from 1997 until 2011. These manufacturers colluded for 14 years on truck pricing and on passing on the costs of compliance with stricter emission rules.
Scania fought the allegations but has been found guilty by the Commission and fined €880 million. The total fines across manufacturers are €3.7 bn.
The manufacturers face claims of €100 bn across the EU.
Edwin Coe has put together a team of lawyers and specialist economists to run the claims. It is already acting for major high street names.
Zahira Hussain, Edwin Coe solicitor said “Companies will have a claim in damages in relation to the difference between the higher price that was paid by them as a result of the cartel, and the purchase price of trucks that would have been payable, had there been no cartel. These claims are called “follow-on damages” claims. It is estimated that some 10 million trucks were sold across the EU during this period and that each one may have been overpriced by up to £10,000.
Companies that bought, leased or outsourced trucks weighing 6 tonnes or more between 1997 and 2011 will have a claim. Through Edwin Coe, these businesses can pursue that claim without cost or risk.”
For more information, please see our dedicated site http://trucksclaims.co.uk or, to register your interest, please contact Zahira Hussain (t: 020 7691 4000 e: firstname.lastname@example.org)
About Edwin Coe
Edwin Coe LLP is a full service law firm based in the heart of London’s historic legal district in Lincoln’s Inn. Founded in 1913, we have grown from our litigation origins to become a thriving and dynamic practice, providing a comprehensive range of legal services to meet the needs of a wide variety of businesses, individuals and organisations based throughout the UK and internationally.
With 43 Partners, we are ranked 115 in the 2022 edition of The Lawyer ‘UK 200’ law firms and are recommended in all the major legal directories. We provide clients with innovative, tailored and integrated legal services and combine a highly personal and responsive service with industry leading expertise.