28 Sep On 19 July 2016 the EU Commission ordered the majority of the largest truck manufacturers in the EU to pay a record breaking €2.93 billion fine for fixing prices – this decision may be relevant to your business
If between 1997 and 2011 you bought a truck weighing over six tonnes or more, from MAN, Volvo/Renault, IVECO, Daimler and DAF, you may have overpaid and have a claim for compensation.
EU Commission decision – 19 July 2016
The European Commission found that the following truck manufacturers, MAN, Volvo/Renault, IVECO, Daimler and DAF have broken competition rules. They had participated in a cartel, between 1997 and 2011, by agreeing not to compete with each other and colluding on the pricing of new trucks. They also passed the cost of meeting environmental standards to customers and failed to pass on new emissions technology.
If you bought a truck between 1997 and 2011 (that weighed six tonnes or more) you may have a claim for compensation. Please do contact us for an initial discussion and an assessment of the potential value of the claim. The approximate value can be calculated by identifying how many trucks you bought between 1997 and 2011 and applying a 10% to 15% figure* to them all. This would give the approximate value of the claim. There could be an additional sum added for delaying the introduction of environmentally friendly technology and relating to the passing on of the costs of compliance with strict emission rules. This needs to be assessed.
Assuming you believe that the value of the trucks you purchased within that time makes a claim worthwhile then we suggest it is worth making an initial assessment, which we can assist you with. As there are potentially a number of truck owners affected, you may form part of a group of claimants which would make bringing a claim more cost-effective.
Costs and funding
Funding of legal costs is always a concern for clients, however, we have access to a number of different funding options and, in many case, can arrange funding. It is worth contacting us for an initial discussion about your potential claim and we can advise you of funding options.
This firm is a specialist litigation firm with a national reputation and is recommended by the Legal 500 for competition law and litigation. We are experienced litigators with an excellent track record in competition claims. Our senior partner Rupert Croft acted in the landmark Crehan case, in which the European Court of Justice confirmed the right to claim damages for breach of the EU competition rules.
What we can offer
As a first step we will look at the facts of your case and establish whether you have a potential claim. Once we have carried out an initial assessment we will send you a detailed proposal outlining how the claim might progress and suggesting suitable funding arrangements.
If you are considering bringing a claim, it is important to act promptly as there are time limits established by the courts. If you bought a six tonne (or more) truck from MAN, Volvo/Renault, IVECO, Daimler and DAF fifteen to twenty years ago, you may well have a claim for compensation. Do contact us for an initial assessment
*Subject to expert confirmation
For more information please contact Jonathan Kenwright on 01242 285855 or firstname.lastname@example.org