The truck cartel – secret price fixing by leading manufacturers

On 19 July 2016, the European Commission imposed fines on leading truck manufacturers Daimler, Volvo/Renault, Iveco, MAN and DAF (the “cartel members”). These manufacturers were found guilty of, through impermissible price fixing, having formed a cartel between 1997 and 2011 for medium and heavy trucks. On 27 September 2017, the European Commission also found that Scania had participated in the cartel and imposed a fine.

Together we will succeed: our coalition against the truck cartel.

Did you purchase or lease medium or heavy trucks from the truck cartel between 1997 and 2011? Then you most likely paid too much.

Based on a study commissioned by the European Commission some time ago, on average, international cartels resulted in damages in the amount of 20% of the purchase price. The exact damages must be determined by a recognised and reputable competition economist.

The truck cartel could also have led to higher prices for the period after 2011 as well as for trucks from manufacturers not involved in the cartel. This is already being examined by the competition economists commissioned by us.

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Your damages claims

We can fight for your rights with a powerful combination of:

  • intelligent IT infrastructure,
  • Dr Roman Inderst, the renowned competition economist,
  • and Hausfeld, the prestigious competition law firm.

Who can enforce claims for damages?

You are affected by the truck cartel if, between 1997 and 2016, you acquired medium and heavy trucks through purchase, lease or hire purchase. For such vehicles, compensation for damages may be demanded for any overpaid price.

Through us, you have the opportunity to enforce damages claims for the time period of 2003 to 2016. The deadline for registering vehicles from the time period of 1997 to 2002 was 30 September 2017. For this time period, we can no longer enforce claims. The documents for your company as well as your vehicles need to be provided until 30 June 2018.

If interested, you are welcome to register with us until 31 May 2018, so that we can provide you with more information regarding the enforcement of claims for damages.

Click here to register.


Great reasons to register with financialright claims:

1. No risk of costs

Our cost model is simple and transparent – and risk-free for you. We receive a success commission only if we succeed for you; such commission will be deducted from the compensation sum. Otherwise, you will not pay anything.


2. Cooperation with competition experts

Through our cooperation with the law firm Hausfeld, which specialises in competition claims, and the renowned competition economist Dr Inderst and his team, we can guarantee that you will have the best possible expertise.


3. Cooperation with associations

Together with the BGL (Bundesverband Güterkraftverkehr Logistik und Entsorgung (BGL) e.V.), we can offer a solution for the enforcement of claims for damages as developed for freight forwarding – reviewed by the legal department of the BGL. More than 20 national and international associations have already joined the initiative, with more than 100,000 trucks registered so far.


4. Best possible management of your claims for damages

Together with a powerful team, we are engaged in pursuing the rights of a large group of claimants. In doing so, we can handle the entire procedure for you: from data analysis, through the involvement of the expert, up to the filing of the lawsuit and disbursement.

1. No risk of costs

Our cost model is simple and transparent – and risk-free for you. We receive a success commission only if we succeed for you; such commission will be deducted from the compensation sum. Otherwise, you will not pay anything..

2. Cooperation with competition experts

Through our cooperation with the law firm Hausfeld, which specialises in competition claims, and the renowned competition economist Dr Inderst and his team, we can guarantee that you will have the best possible expertise.

3. Cooperation with associations

Together with the BGL (Bundesverband Güterkraftverkehr Logistik und Entsorgung (BGL) e.V.), we can offer a solution for the enforcement of claims for damages as developed for freight forwarding – reviewed by the legal department of the BGL. More than 20 national and international associations have already joined the initiative, with more than 100,000 trucks registered so far.

4. Best possible management of your claims for damages

Together with a powerful team, we are engaged in pursuing the rights of a large group of claimants. In doing so, we can handle the entire procedure for you: from data analysis, through the involvement of the expert, up to the filing of the lawsuit and disbursement.

Our team and our expertise

Intelligent information technology

Since every truck is handled individually, enormous amounts of data are generated in this regard. Evaluating such data requires experts in intelligent IT infrastructures. financialright claims specialises precisely in such complex mass processes and offers the best possible solution here.

financialright claims

Prestigious competition attorneys

financial rights claims has commissioned Hausfeld, the prestigious US law firm, with the legal enforcement of the claims. Hausfeld is one of the most experienced competition law firms in Europe and the US in regards to cartel damages claims.


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Renowned economists

Proceedings are supported by Dr Roman Inderst, who is one of the leading experts in the field of the calculation of cartel damages, as specialist.

Any questions?

financialright claims GmbH
Königsallee 106
40215 Düsseldorf
Phone: +49 (0) 211 972602-00

Contact by E-Mail

Registration

You are registering your company outside the set deadline 30.05.2018. We will place your company on the waitlist and will try to include your mandate in the claim this year. Please understand that we cannot guarantee your consideration in the claim. Thank you!

Register for waitlist

FAQ

Competition proceedings are often complicated, time-consuming and costly. The calculation and proof of damages are only possible with a great deal of data.

The clear benefits of working with us include the following:

1. Strong team of experienced experts – In order to enforce your claims professionally and successfully, we work together with the prestigious law firm Hausfeld and Dr Roman Inderst, the renowned competition economist. They have considerable experience and an extraordinary reputation in this field, so that you can be supported in this effort by a strong team of experts.

2. Intelligent IT solutions – Through our efficient and specialised IT infrastructure, we can provide you with the best possible solution for enforcing your claims.

3. No risk of costs – We assume the enforcement of your claims on the basis of a pure success commission on the damages obtained. We bundle the claims of our customers. This allows many truck buyers to successfully enforce their claims, as we bear all the costs and risks.

Yes, there is a risk that your claims will become time-barred. For vehicles that were acquired by purchase, hire purchase or lease up to 31 December 2002, an acute period of limitations problem currently exists. Such claims could become time-barred starting as of 1 January 2018.

As such, please note that you can only register vehicles acquired in the period from 1 January 2003 to 31 December 2016.

Whether and to what extent damages have been incurred will be determined by our experienced competition economists.

Based on past experience with other cartels, an initial estimate of the damages likely to be caused is 5% to 20% of the purchase price or the lease payments paid. However, the exact determination requires a case-by-case analysis. In addition, under German law, claims for damages are subject to interest, such that substantial interest claims will be added to the pure damages.

Of course, anyone who has purchased or leased a truck, or acquired a truck through hire purchase, can attempt to find a solution with the truck manufacturers alone. As a rule, however, such an approach is likely to be futile. At this time, truck manufacturers are either not prepared to negotiate, or at best are offering economic concessions on future purchases, hire purchases or leases of trucks. However, such purportedly better terms will certainly be well below what is likely to be the damage, which is roughly estimated at 5% to 20% of the purchase price, plus interest.
After the assignment, on the recommendation of our contract attorneys and economists, we decide on whether and on what terms a settlement with the truck manufacturers could be sensible. Since we are directly involved in the proceeds of a settlement or a lawsuit, we – just like you – have a keen interest in achieving the best possible settlement.
You can enforce damages through us for vehicles from the period of 1997 to 2016. Previously, the situation was that only vehicles that were acquired in the cartel period (1997 to 2011) were to be registered. After a thorough review of the great amount of vehicle data, which our customers previously submitted, our experts have gained new insights regarding the collection period.

The collection period (cartel period of 1997 to 2011) will now be extended by the post-cartel period. It is possible that even after the end of the cartel in 2011, the trucks were still sold at inflated prices, before the market was able to neutralise. Thus, it is also possible to register vehicles acquired from January 2012 to the end of 2016.

Please note: The deadline for the registration of vehicles from the period of 1997 to 2002 was 30 September 2017, such that, at this time, claims can no longer be enforced for that period of time. You can register trucks which were acquired in the years of 2003 to 2016.

We enforce claims in connection with the following criteria:

• Truck from 6 tonnes of permissible total weight
• Acquisition between 2003 and 2016
• New vehicles from the manufacturers Daimler, Volvo/Renault, MAN, Iveco, DAF and Scania
• Purchase, lease and hire purchase

Please note: For reasons of the period of limitations, only claims from 2003 onwards can be considered.

The collection period (cartel period of 1997 to 2011) will now be extended by the post-cartel period. It is possible that even after the end of the cartel in 2011, the trucks were still sold at inflated prices, before the market was able to neutralise. Thus, it is also possible to register vehicles acquired from January 2012 to the end of 2016.

Please note: The deadline for the registration of vehicles from the period of 1997 to 2002 was 30 September 2017, such that, at this time, claims can no longer be enforced for that period of time. You can register trucks which were acquired in the years of 2003 to 2016.

Unfortunately, any claims for damages arising from the purchase of used trucks or demonstration vehicles cannot be considered.
No, unfortunately, we do not enforce any damages claims for rented trucks.
We will enforce your claims on the basis of a pure success commission. The costs of the proceedings will be borne by financialright claims, which will also advance them. There are no hidden fees or other costs. Only if we are successful will you pay us a success commission of 33% of the claim to compensation that is paid. If no success is achieved, your company will not have to bear any costs.
For your trucks, we will need PDF scans of the acquisition documents (for example, the purchase contract, lease contract or invoice). Furthermore you need to provide us with the vehicle identification number (VIN).
The deadline for the first lawsuit was 30 September 2017. Even if you missed this deadline, you can register for the 2nd lawsuit in 2018 until 31 May 2018. You can then assert claims through us for vehicles acquired starting on 1 January 2003. In this regard, you can register with your company at any time. We will contact you with further information.
The decision of the European Commission of 19 July 2016 determined, after many years of investigation, that the truck manufacturers Daimler, DAF, IVECO, MAN and Volvo/Renault formed a cartel regarding secret price fixing from 1997 to 2011.

For such violations, the EU Commission imposed a monetary penalty of 2.927 billion euros against the cartel members. The manufacturer Scania had rejected the cartel allegations. Only MAN was able to achieve leniency from the fine, since the truck manufacturer, as a key witness, informed the Commission of the cartel.

You can read the decision of the European Commission of 19 July 2016 here.

On 27 September 2017, Scania was also subject to a fine of 880 million euros for impermissible price fixing. Scania announced that it would contest the decision.

Please also read the decision of the European Commission against the truck manufacturer Scania.

We work with various associations, including the BGL (Bundesverband Güterkraftverkehr Logistik und Entsorgung (BGL) e.V.) and the AMÖ. For example, we offer a solution for the enforcement of claims for damages as developed for freight forwarding on the initiative of the BGL – reviewed by the legal department of the BGL. More than 20 national and international associations have already joined the initiative, with more than 100,000 trucks registered. Please state your association when registering.
Yes, they already do with us. Colloquially, a class action designates the bundling of claims that are brought together into a single lawsuit. The bundling of parallel claims against the same defendant is expressly provided for in Paragraph 260 of the German Code of Civil Procedure (Zivilprozessordnung), since a multitude of further proceedings are avoided with one court proceeding. Due to the fiduciary assignment, it is possible for financialright claims to bundle the parallel claims of affected truck buyers, and combine them into one or more lawsuits. Incidentally, class action lawsuits have long been customary in competition proceedings. Large companies such as Deutsche Bahn have initiated such class action lawsuits regarding hundreds of millions of euros in litigation value, most recently regarding the air freight cartel.

About us – who is financialright claims?

We can put you on equal footing with the big corporations and enforce your rights. Our team of attorneys, software developers and database experts takes the law to a new level of quality for our customers – conveniently, professionally and without risk.

financialright claims was founded by Dr Sven Bode. Prior to this, with Dr Philipp Kadelbach, he founded flightright, the market leader in the enforcement of passenger rights services as known from TV & press, which has now helped over half a million people throughout Europe.