Have we all been taken for a ride?
So the big story this month has to be the news that the European Commission has imposed a fine of over €2.9 billion on MAN, Daimler, Iveco, DAF and Volvo/Renault for participating in a cartel concerning medium and heavy trucks.
The cartel operated for 14 years (1997-2011) and the companies illegally cooperated on a number of points, the principal one being increasing the prices of medium and heavy trucks at Gross List (Factory Price).
The companies concerned all acknowledged their involvement and agreed to settle the case, with the Commission, in exchange for a 10% reduction of the fine.
So that's all very nice but what does this mean to us as the end users? Well if your company purchased and/or leased medium or heavy trucks from one of the five named producers between 1997 and 2011, you may be entitled to claim damages and interest resulting from the overcharge.
Here at CMG we have already started this process and we have engaged with a leading law firm, RPC (www.rpc.co.uk) who specialise in competition and cartel cases.
So if you would like to register your interest with a view to be included within the group, then please respond by completing and submitting the form on this page.
Please note: no legal obligation arises from registering your interest. It is simply an expression of interest and a request for more information.