THE TRUCK CARTEL
OVERVIEW
The European Commission has imposed a €3.8 billion fine – its largest ever anti-trust fine – against a group of six medium / heavy Truck Manufacturers for multiple unlawful behaviors including unlawfully coordinating truck pricing over a 14-year period spanning 1997-2011.
BINDING NATURE OF THE DECISION
- The EC decision is binding on all member courts; therefore, if properly litigated, the question is not whether the Truck Manufacturers are liable and owe damages, but rather how much they owe.
- EU truck manufacturers MAN, Daimler, Iveco, Volvo and DAF have all accepted the fines and acknowledged their role in the cartel – this obviates the prospect of appeal or legal ambiguity.
- The EC’s press release specifically states that firms / people affected can bring the matter before Member States to seek damages; thereby, the EC decision constitutes binding proof that the behavior that took place was illegal.
TRUCK PURCHASERS HAVE THE RIGHT TO COMPENSATION
Each truck purchaser has the right to seek compensation by bringing a claim before the courts of an EU member state. TransAtlantis is purchasing truck claims, thereby releasing Truck Purchasers from having to bring their own litigation against the cartelists.