Competition damages actions are claims whereby individuals and companies can seek redress for loss suffered as a result of an infringement of competition law by a third party. For example, customers who bought goods or services from a cartelised market can recover damages for the higher prices they had to pay as a result of the cartel.
With new legislation in place to facilitate competition damages claims at both UK and EU level and with the possibility of funding arrangements to limit the cost exposure to those raising a claim, there is certainly an incentive for companies to consider whether they might have a claim.
The Shepherd and Wedderburn Competition Team have compiled a new publication: EU antitrust decisions and ongoing investigations. This provides a comprehensive overview of the key EU Commission antitrust infringement decisions and currently ongoing investigations. This document indicates the amounts involved and the total fines the EU Commission imposed in the period between 2012 and the first quarter of 2016 amounted to Euro 5.8bn.