The European Commission found that a number of truck companies had engaged in anti-competitive behaviour for some 14 years. It was found that the truck companies had been price fixing and distorting the implementation of new emissions technology into their vehicles.
The European Commission has imposed fines on the companies totalling some 2.93 billion Euros for participating in the cartel.
Our Group Action Lawyers are on the case – read on for more information, and if you are affected, we might be able to help you claim compensation.
Who was involved?
Volvo
Iveco
DAF
If you bought a vehicle made by any of the above manufactures between 1997 and 2011, you may be owed thousands of pounds in compensation.
How did they breach competition law?
The companies involved in the cartel breached competition law by engaging in price fixing and distorting prices for the implementation of new emissions technology.
Price fixing is where all companies involved agree to not sell goods or services below a certain level (price). This is illegal as it prevents customers access to fair competition within the market, and it can also affect other businesses trying to compete in the market who are not a part of the cartel.
As MAN was the whistle-blowing truck company who revealed the existence of the cartel they were not fined; but they will still have to answer for claims made against them.
If companies are found to have breached competition law they can be fined up to 10% of their global turnover for several years, as well as have third parties bring an action for damages against them if they have suffered a loss from the anti-competitive behaviour. The European Commission is allowing individuals and groups to bring claims forward against the truck companies.
A cartel, which is what we have in this case here, is often seen as the most serious form of anti-competitive behaviour that takes place between competitors. Individuals can be prosecuted and face prison sentences of up to five years, and can have an unlimited fines imposed on them personally.
We can help
We specialise in group action claims. We have, and still are, involved in some of the biggest group action claims that have helped victims recover millions of pounds in damages.
We’ve been investigating the truck cartel for some time now, and we are taking cases on.
If you have been affected by the truck cartel scandal, we can help and urge you to contact us.
First published by Admin on August 05, 2016
Posted in the following categories: Cartels and tagged with compensation claims