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BRUSSELS (Reuters) -Daimler’s Spanish unit can be liable for damages sought by companies affected by the German carmaker’s role in a truck cartel fined by EU antitrust regulators five years ago, an adviser to Europe’s top court said on Thursday.
FILE PHOTO: Daimler AG sign is pictured at the IAA truck show in Hanover, Germany, September 22, 2016. REUTERS/Fabian Bimmer/File Photo/File Photo
Should the court follow the non-binding opinion in the coming months, it could pave the way for companies to sue subsidiaries of other cartel members and other illegal price-fixing groups.
The European Commission in 2016 handed out a then record 2.9 billion euro fine to the cartel which included Daimler, Swedish company Volvo, Iveco, which is part of Italian truck and tractor maker CNH Industrial, and DAF Trucks, owned by U.S. company Paccar.