We’ve already blogged about this and we’re already taking action on what’s happened; but in case you want a bit of a “nutshell” guide as to what’s happened, read on:
Companies who bought heavy to medium trucks between 1997 and 2011 may be able to claim damages due to the investigation and finding of truck cartel involving several truck companies. A cartel is in breach of the Competition Act 1998 and the Enterprise Act 2002.
in addition, due to the truck companies involved being international and supplying to the EU, the companies also being held to have breached The Treaty of the Functioning of the European Union; thus breaching EU law.
UK and EU laws do not allow certain types of agreements to take place that may negatively affect trade and competition in the UK and/ or EU. Arrangements that would be a breach of both UK and EU laws can be things like: fixing any selling conditions (the fixing of buying and selling prices); controlling production and technological developments; share of markets and source supplies; and agreements which would put other businesses at a disadvantage.
In the case of the truck cartel, the findings showed that the companies involved had collaborated in prices and price increases for the development of new technology.
Largest fine imposed
Those that have been involved in the truck cartel have received fines of over 2.9 billion Euros.
The truck companies that were involved in the 14 year cartel were: MAN, Volvo/Renault, Daimler, Iveco, and DAF. Investigations in to the alleged involvement of Scania are ongoing.
The cartel started in 1997 and only stopped in 2011 because the truck companies were being investigated by the commission as a result of MAN whistle blowing on the operation. There are around 30 million trucks on the road with a huge chunk of the market controlled by the companies involved in the cartel.
We are now accepting claims
At the Competition Lawyers we are now taking on cases for all of those that have been affected by the truck cartel. If you have been affected by the truck cartel we urge you to contact us. If we think you have a claim then we can help you get the compensation that you deserve.