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UK: Burford and Hausfeld take on trucks cartel

By  |  July 6, 2017

Hausfeld, a leading global law firm with a focus on competition disputes and other complex litigation, and Burford Capital, a leading global finance firm focused on law, announced a financing package that will support claimants represented by Hausfeld in pursuing damages claims in England arising from the July 19, 2016, European Commission Trucks Cartel decision.

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    The Commission imposed record-breaking €2.9 billion (US$3.4 billion) fines against five leading truck manufacturers, Daimler, Volvo/Renault, Iveco, MAN and DAF, which, it concluded, had coordinated: the pricing of trucks over a 14-year period between 1997 and 2011, the timing of the introduction of low-emission technologies and the passing-on to customers of the costs for emissions technologies. A further truck manufacturer, Scania, remains under investigation.

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    Any business across the European Economic Area which purchased or leased medium-duty or heavy-duty trucks from the Cartelists has a right to claim compensation for any loss suffered as a result of the higher prices which they had to pay for trucks due to the price fixing, together with interest since the date of purchase.

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