Truck manufacturers will pay for price fixing. We are talking about billions of dollars
A British court has allowed the Road Haulers Association (RHA) to seek compensation on behalf of carriers against price fixing by truck manufacturers.
On July 25, a UK court dismissed an appeal by DAF and MAN against a ruling by the Antitrust Court allowing RHA to seek damages from manufacturers on behalf of its members in a class action lawsuit.
Truck manufacturers have been accused of creating a cartel between 1997 and 2011 that allegedly caused MAN, Volvo, Renault, Daimler, Iveco and DAF to overprice trucks in the UK.
The court ruling means that thousands of truck owners in the UK will be able to claim compensation from manufacturers. We are talking about 18 thousand companies, the total amount of compensation can reach $ 2 billion.
Richard Smith, chief executive of RHA, said he was pleased with the decision of the Court of Appeal, adding that he believes the case will now go to the Antitrust Tribunal of the Court of Appeal and compensation will be paid to all companies that joined the lawsuit.