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Our Group Action Lawyers fight for the rights of individuals and businesses affected by anti-competitive behaviour. The victims in these actions can number in the thousands.
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Legislation here in the UK and across the European Economic Area - such as the Competition Act 1998; Consumer Rights Act 2014; and Antitrust lawyers - is designed to ensure that organisations do not take advantage of consumers, and that fair competition should take place on a level playing field.
Competition on the whole is supposed to ensure that consumers pay fair prices; allow for organisations to be efficient; and allow for forward thinking and innovation. But on occasions big corporations have taken the easy route of fixing prices and abusing market dominance to attain high profile margins at the expense of their consumers.
It's wrong - which is why our Group Action Lawyers are here to champion consumer rights and fight for the rights of anyone who has been the victim of anti-competitive behaviour.
Both individuals and organisations affected by anti-competitive behaviour can be eligible for Competition Compensation. Anti-competitive behaviour that can lead to claims can include:
Where organisations collude to set prices higher to yield greater profit margins; at the expense of the consumer
Where output is restricted which can drive up prices by distorting the principle of supply and demand
Reducing / Restricting Innovation
A growing problem where innovation that could reduce prices - at the sacrifice of profitability - is not utilised. If organisations informally agree not to push through new innovations then they can all benefit from maintaining their profit margins
Equally prices can be fixed following on from new innovation, which is also anti-competitive behaviour
Organisations sharing information on suppliers, for example, to distort the market for their own gain
Abuse of Market Positon
Where organisations can abuse market dominance or market share which does not allow for a level playing field.
Essentially, anything that can prevent, restrict, or distort fair competition in the market can be deemed as anti-competitive behaviour. Price fixing is often formulated through Price Cartels that breach competition legislation both in the UK and across the EU.
Normally you will claim for the financial loss caused, plus interest.
Using the most common example of price fixing, you will normally claim the difference between what you actually paid, and what you ought to have paid. Sometimes evidencing this can be difficult because organisations involved in illegal price cartels don't usually document their activity! (For obvious reasons!)
But let's say you paid 10% more - well, in that case, you can claim back 10% of the value lost. On top of that, you are entitled to claim for interest as well. And it can all add up - especially if you are a business who has been overpaying for years as a result of illegal price fixing!
In cases of organisations abusing their market dominance, you can claim for lost revenue if you are unfairly priced out of a market - through predatory pricing, as the easiest example.
It all comes down to the financial loss suffered by you or your organisations.
We have recovered millions of pounds for compensation claimants, and we have been involved in some of the biggest consumer action cases in the history of the UK. Right now we are acting for thousands of people claiming in group actions where the Consumer Rights Act and the Competition Act have been breached.
For help and advice on a completely no obligation basis, you can contact us on 0800 634 75 75 or you can leave your contact details for the Competition litigation team to get in touch with you by filling in our callback form below.
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