Price fixing by major truck manufacturers

If you purchased medium and heavy trucks between 1997 and 2011 you may be entitled to compensation

On 19 July 2016, the European Commission (“Commission”) announced findings against 5 leading truck manufacturers. Daimler, Volvo/Renault, Iveco, MAN and DAF (the “Cartelists”) were found guilty for participating in a Trucks Cartel by fixing the price of medium and heavy duty trucks over a 14-year period between 1997 and 2011. A further truck manufacturer, Scania, remains under investigation by the Commission.

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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Right to Claim Compensation

With a powerful combination of intelligent IT infrastructure, recognised competition economists and the specialist international law firm Hausfeld, with proven track record in antitrust claims for damages.

Any business which purchased medium and heavy duty trucks between 1997 – 2011 may have a right to compensation arising out of the higher prices paid as result of the cartel. Affected businesses are encouraged to register their interest with financialright for more information on how to pursue their claim.

We are working with expert economists to quantify the loss suffered by businesses affected by the Trucks cartel who wish to pursue their right to compensation.


Reasons to sign up to financialright:

No cost risk

We work on a pure No-Win- No-Fee basis: there is no cost to the claimant if the claim is not successful.


Competition experts

We work alongside Hausfeld, a specialist law firm in the field of European competition damages claims. We also work with Professor Roman Inderst and his team of proven competition economic specialists.


Management of your claim

We pursue claims jointly on behalf of a group of claimants. We handle the entire process for you including collection of information, working with experts to calculate the damage, submission of the claim and settlement payment or judgment.


No cost risk

We work on a pure No-Win- No-Fee basis: there is no cost to the claimant if the claim is not successful.

Competition experts

We work alongside Hausfeld, a specialist law firm in the field of European competition damages claims. We also work with Professor Roman Inderst and his team of proven competition economic specialists.

Management of your claim

We pursue claims jointly on behalf of a group of claimants. We handle the entire process for you including collection of information, working with experts to calculate the damage, submission of the claim and settlement payment or judgment.

Our team and expertise

Specialist Competition Lawyers:

Hausfeld is one of the most experienced law firms in antitrust damages proceedings on the claimants’ side in the Europe and USA. Hausfeld will also apply this negotiation and process expertise against the truck cartel in Germany.


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IT Capabilities:

Gathering information and data can prove to be a challenging exercise and evaluating this requires experts with intelligent IT infrastructure. Financialright specialises in such complex mass procedures and have extensive experience having evaluated and enforced thousands of cases against banks in connection with prohibited credit processing fees and are leading one of the biggest lawsuits against Volkswagen in Europe because of the diesel scandal.

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Specialist Economic Experts:

The proceedings against the Truck Cartel defendants will be advised on our part by Professor Roman Inderst, one of the most renowned competition economists in Germany.

Registration

Businesses who purchased medium and heavy duty trucks between 1997 and 2011 and would like further information in relation to their potential claim are invited to contact us.

 

financialright GmbH
Tel: +49 40-43097818

Paul-Nevermann-Platz 5
22765 Hamburg
Germany

 
 
 

FAQ

Claiming compensation for cartel damages can be time-consuming and costly. A successful approach requires lawyers and competition economists who have considerable experience and an exceptional reputation in this field. The grouping of claims through Financialright allows many businesses to pursue their claims on a cost-effective basis, as we bear all upfront costs and risks. If the claims are successfully enforced, claimants receive the money recovered and we receive a fee. On the contrary, if the claim is not successful there will be no fee payable.
There are strong arguments that German law would apply to cartel damages claims in this case. According to German law, it seems likely that the statute of limitations is three-years from the end of the year in which the infringement decision was published. However, there is a considerable risk that certain claims for damages arising out of the period prior to 2002 could become time-barred in December 2017. In any event, our lawyers will of course also consider the statutes of limitation under the various national laws. Since the preparation of the expert opinion alone will take several months, we recommend that you do not wait too long for an action against the truck cartel, but to promptly think about participating in our procedure.
Any business which:

  • Bought medium and heavy duty trucks between 1997 and 2011 from any of the Trucks cartelists.
  • Leased or rented medium and heavy duty trucks between 1997 and 2011 from any of the Trucks cartelists.

It might also be possible to claim damages for trucks bought or leased after 2011 or for trucks from a non-cartelist.

Affected businesses may also be able to claim compensation from the cartelists in respect of truck purchases from Scania or other manufacturers, on the basis that the market price of trucks is likely to have been artificially increased by the Cartel regardless of whether Scania/other manufacturers are later found to have participated in the cartel behaviour.

At this stage claims for damages resulting from the purchase of used trucks are not being considered.
The average overcharge caused by cartels has been found by studies to range from between 10% to 20%, however this will be subject to a number of different factors and will need to be assessed on a case by case basis. In addition, claims for damages under the laws of Germany and many other EEA countries may include interest, so that, in addition to the pure loss, considerable interest claims will still be incurred. We are working with expert economists to quantify the loss suffered by businesses affected by the Trucks cartel who wish to pursue their right to compensation.
Yes, claims for all such trucks transactions can in theory also be enforced by us. Note that each purchase and lease must be individually assessed for its claim value.
After claims are assigned using Financialright’s model, we assess whether and at what conditions a settlement with the truck manufacturers might be reasonable. All of this on the recommendation of our specialist economists and lawyers who will be acting on our behalf. Because of our structure and relationship to our assignors, we have a strong interest in achieving the fairest and best possible settlement, just as you do.

About financialright

We have a strong track record of successfully bring you on equal terms with the big corporations and put their right through. With the help of our intelligent IT, we have evaluated and enforced thousands of cases against banks in connection with prohibited credit processing fees. With our brand myRight, we are leading one of the biggest lawsuits against Volkswagen in Europe because of the diesel scandal. In doing so, we always work with leading attorneys and courts of law to ensure the best possible legal enforcement. Our team of lawyers, software developers and database experts puts the right for our customers to a new quality level – comfortable, professional and without risk.

Financialright was founded in 2014 by Dr. Sven Bode. Prior to this, Dr. Sven Bode had founded flightright with Dr. Philipp Kadelbach, TV & press’s well-known specialist in the enforcement of airborne rights, which has now helped more than half a million people throughout Europe.