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EU's €2.9B Truck Cartel Fines Pave Way For Damage Suits

Law360, New York (July 19, 2016, 7:09 PM EDT) -- The European Commission on Tuesday announced a record €2.93 billion ($3.23 billion) in fines against leading truck makers for cartel behavior, opening the floodgates to follow-on litigation that could result in significant damages against the companies because of the extent and pervasiveness of the scheme, experts said.

Five companies — MAN, Volvo/Renault, Daimler, Iveco and DAF — admitted to participating in a cartel to fix gross list prices for medium to heavy trucks in Europe from 1997 to 2011 and to pass on the costs of...
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