Edwin Coe, London’s leading class action firm, takes on truck manufacturers for claimants seeking damages from truck manufacturers who entered into a fraudulent price fixing cartel. If you bought, leased or outsourced trucks over 6 tonnes between 1997 and 2011 you will have a claim. You can pursue that claim without cost or risk.
Five truck manufacturers, MAN, Volvo/Renault, Daimler, Iveco and DAF, have admitted to the European Commission that they participated in a price fixing cartel fraud against purchasers of their trucks from 1997 until 2011. There has also been a finding against a sixth manufacturer, Scania, by the European Commission.
European Commission’s findings
The European Commission has found that the six companies, which together account for around nine out of every 10 medium and heavy trucks produced in Europe, colluded for some 14 years on truck pricing, and on the passing on of compliance costs with strict emission rules.
The investigation related specifically to the market for medium (weighing between 6 – 16 tonnes) and heavy trucks (weighing over 16 tonnes). The Commission’s investigation found that the various companies coordinated prices, the timing of the introduction of emission technologies, as well as the passing on to customers of the cost of the emission technologies. Five of the six cartelists have admitted their involvement.
Any companies which purchased, leased or used in their business medium and/or heavy trucks during the infringement period (1997 – 2011), or shortly thereafter, may have a claim for damages and interest.
Nature of the claim
Companies could 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 often 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.
Below you will find a link to the European Commission’s press release from July 2016 confirming the conclusion of the investigation.
Edwin Coe specialises in bringing cases against entities whose action, such as cartels, have caused losses to small or large groups of people. We are regularly instructed on cartel claims and are currently acting for claimants in the air cargo cartel and have acted in many competition claims and inquiries.
If you or your business used trucks (whether bought, rented or leased) in the period please contact Zahira Hussain in order to discuss the matter further.
Please contact Zahira Hussain
telephone 020 7691 4000
Who is the claim against?
The claim is against one or more of the cartel companies – MAN, Volvo/Renault, Daimler, Iveco, DAF and Scania.
Who can bring a claim?
Any business that purchased or leased trucks weighing 6 tonnes or more from any manufacturer between 1997 and 2011. Claims may also be brought by those that outsourced their trucking requirements. Claims may be brought by those buying trucks from other manufacturers because their prices are likely to have been affected by the cartel pricing.
What is the nature of the claim?
The claim is for compensation of losses suffered as a result of the six cartelists’ anti-competitive activities between 1997 and 2011. Some estimate the losses to be between £5,000 and £10,000 per truck, plus interest.
Will I have to pay anything towards the costs of bringing the claim?
No. We will secure funding so that you will not have to pay anything as the claims progress. Upon successful resolution of your claim, you will have to give the funder a percentage of your damages. This is no more than 25%. The final arrangement depends on the size of the claim.
What happens if the claim is unsuccessful?
You will not have to pay anything. We will obtain insurance cover so that the insurers will pay if you are ordered to pay the manufacturer’s costs.
Press Coverage -
Edwin Coe launches group action for compensation against fraudu...
Group Action Litigation