Collective action litigation firm Edwin Coe is leading a group action on behalf of claimants in the brewery industry seeking damages from the truck producers involved in 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. Additionally, Scania fought the allegations but has recently been found guilty by the Commission and fined €880 million. The total fines across manufacturers are €3.7 billion.
The manufacturers now face claims of €100 billion 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 “We are looking to help breweries and drinks sector businesses make their claim, whether they operate a large fleet of delivery trucks or perhaps only one or two.
"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 six tonnes or more between 1997 and 2011 will have a claim. Through Edwin Coe, these businesses can pursue that claim without cost or risk.”
Edwin Coe has launched a dedicated website which provides more information and a video on http://trucksclaims.co.uk
This is one of a number of claimant groups established to pursue compensation from the truck manufacturers. Earlier this month, Collyer Bristow signed terms to establish a claimant group with a compensation claim worth at least £100 million. Click here to read more.
Login to comment
Comments
No comments have been made yet.