Today Hausfeld, a leading global law firm with a focus on competition disputes and other complex litigation, and Burford Capital, a leading global finance firm focused on law, announced a financing package that will support claimants represented by Hausfeld in pursuing damages claims in England arising from the 19 July 2016 European Commission Trucks Cartel decision.
The Commission imposed record-breaking € 2.9 billion fines against five leading truck manufacturers, Daimler, Volvo/Renault, Iveco, MAN and DAF (the “Cartelists”), which, it concluded, had coordinated the pricing of trucks over a 14-year period between 1997 and 2011, the timing of the introduction of low-emission technologies and the passing on to customers of the costs for emissions technologies. A further truck manufacturer, Scania, remains under investigation.
Any business across the European Economic Area which purchased or leased medium-duty or heavy-duty trucks from the Cartelists has a right to claim compensation for any loss suffered as a result of the higher prices which they had to pay for trucks due to the price fixing, together with interest since the date of purchase.
Given its unparalleled track record in representing claimants in competition damages disputes, Hausfeld is uniquely well positioned to assist affected businesses in recovering compensation for losses. Burford’s financing package enhances this capability, both by funding the ongoing costs of litigation and by protecting claimants against any adverse costs exposure.
Scott Campbell, Partner in Hausfeld London, said: “Hausfeld is delighted to partner with Burford in offering victims of the Trucks Cartel a comprehensive package of financial and legal support in pursing their losses in England.”
Craig Arnott, Managing Director of Burford in London, said: “As the world’s largest provider of litigation finance, Burford is proud to draw on unmatched resources and expertise to help Hausfeld in its work to serve claimants.”
Neil McLeod, PHA Media, 020 7440 0811, [email protected]
About Burford Capital
Burford Capital is the leading global finance and investment management firm focused on law. Its businesses include litigation finance and risk management, asset recovery and a wide range of legal finance and advisory activities. Burford is publicly traded on the London Stock Exchange, and it works with law firms and clients around the world from its principal offices in New York, London, Chicago, Washington, Singapore and Sydney.
For more information about Burford: www.burfordcapital.com
Hausfeld is a leading global law firm with offices in Berlin, Boston, Brussels, Dusseldorf, London, New York, Philadelphia, San Francisco, and Washington, DC. The firm has a broad range of complex litigation expertise, particularly in antitrust/competition, financial services, sports and entertainment, environmental, mass torts, consumer protection, and human rights matters, often with an international dimension. Hausfeld aims to achieve the best possible results for clients through its practical and commercial approach, avoiding litigation where feasible, yet litigating robustly when necessary. Hausfeld’s extensive experience with alternative and innovative fee models offers clients a diverse menu of engagement options and maximum flexibility in terms of managing their cost exposure. Hausfeld is the only claimant firm to be ranked by the Legal 500 and Chambers & Partners as a top tier firm in private enforcement of antitrust/competition law in both the United States and the United Kingdom.
For more information about the firm, including recent trial victories and landmark settlements, please visit: www.hausfeld.com.