Global Electricity Cartel Faces Class Action

[Gunnar Larson]

Check out my new article:
https://litigationfinancejournal.com/global-electricity-cartel-faces-class-action/

Global Electricity Cartel Faces Class Action

Burford Capital is funding litigation exploration of a potential claim that
alleges that some of the world’s largest electricity cable makers conspired
to inflate cable prices in a fraud paid for by millions of consumers in the
United Kingdom. The higher costs of the alleged cable fraud have been
passed onto consumers since April, 2001.

According to reports
<https://www.reuters.com/business/energy/european-power-cable-groups-face-uk-class-action-over-cartel-2022-05-11/>
 on the matter <https://www.homeenergyaction.co.uk/>, a similar cartel
operated between 1999 and 2009, in which $319M in fines were awarded. Given
that consumers pay for the high voltage cables as part of their utility
bills, the new case aims to recover damages and court costs associated with
any modern electricity cartel operating at the expense of United Kingdom
consumers.

Click here
<https://www.reuters.com/business/energy/european-power-cable-groups-face-uk-class-action-over-cartel-2022-05-11/>
to
learn more about the case.
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