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

By Eric Kroh (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 complying with stricter emissions rules to consumers. (Credit: AP) Five companies — MAN, Volvo/Renault, Daimler,...

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