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European truck makers could face large lawsuit

Published 11/14/2016, 12:20 PM
European truck makers could face large lawsuit
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  • A lawsuit on the behalf of truck buyers in Europe is being planned by litigation funding firm Benthem Europe.
  • Reuters reports that the damages claim in the legal action could be €100B as truck makers are pressed for running a 14-year price-fixing cartel.
  • By Bentham's tabulations, 10M trucks were sold in Europe with an extra €10.5K added to the price tag due to the collusion.
  • Truck makers potentially impacted include PACCAR (NASDAQ:PCAR), Navistar (NYSE:NAV), Daimler (OTCPK:DDAIF), Volvo (OTCPK:VOLVY), Volskwagen (OTCPK:VLKAY), Supreme Industries (NYSEMKT:STS) and CNH Industrial (NYSE:CNHI).

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