Truck Makers Face Nearly $1 Billion in Price-Fixing Claims

Oct 25, 2019 at 08:31 AM CST
Daimler AG, Volvo AB and other truck makers should be ordered to pay 867 million euro ($965 million) over a price-fixing cartel, according to lawyers in Germany for companies that were overcharged. The case was brought by Financialright GmbH on behalf of more than 3,200 companies that say they paid too much for their trucks because prices were fixed. Lawyers for the truck makers argued that the suit should be dismissed because of the way Financialright acquired the claims. After two hours of arguments, the Munich court scheduled a ruling for Jan. 24.

Oct 25, 2019 at 08:31 AM CST

Daimler AG, Volvo AB and other truck makers should be ordered to pay 867 million euro ($965 million) over a price-fixing cartel, according to lawyers in Germany for companies that were overcharged. The case was brought by Financialright GmbH on behalf of more than 3,200 companies that say they paid too much for their trucks because prices were fixed. Lawyers for the truck makers argued that the suit should be dismissed because of the way Financialright acquired the claims. After two hours of arguments, the Munich court scheduled a ruling for Jan. 24.