Truckmakers Face Nearly $1 Billion in Claims in Cartel Suit
- Daimler, Volvo, Volkswagen say suit should be dismissed
- Case follows heavy fines from EU over the price-fixing scheme
A fully assembled Scania R450 cargo truck drives on to a chassis dynamometer testing machine at the Scania factory in Zwolle, Netherlands.
Photographer: Jasper Juinen/BloombergThis article is for subscribers only.
Daimler AG, Volvo AB and other truckmakers 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 truckmakers 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.