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Governance Retail Technology Anti-trust / Competition Class Action Collective Redress Consumer Class Action

Amazon Anti-trust Class Action

The Case

Therium is funding a class action brought before the Federal Court of Canada for damages arising from Amazon’s anti-competitive agreements with third-party sellers on the Amazon platform, which restricted those sellers from selling products on other e-commerce sites for prices lower than the prices charged on Amazon. This is alleged to have had the effect of raising prices on other e-commerce platforms and maintaining artificially high prices on the Amazon platform.

Though this claim is being brought on a standalone basis in Canada, it takes place in the context of ongoing investigations by the European Commission and other regulators into Amazon’s conduct more generally and Amazon’s practices having already been found to be anti-competitive by the German Federal Cartel Office. The funding arrangements have been approved by the Canadian Federal Court.

Why It’s Significant

The claim is the highest value anti-trust class action in Canada.

Therium’s Solution

The case is an example of heavy competition litigation to which Therium is able to commit significant resources, making the case one of the largest funded claims in Canadian legal history.

Specialism

Consumer Class Action / Anti-trust / Competition / Collective Redress

Sector

Technology / Retail

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Case Studies

Banking Financial Services Anti-trust / Competition Class Action Collective Redress Investor Loss

FX Cartel

The Case

Therium funded a potential opt-out collective proceeding before the Competition Appeal Tribunal (CAT) brought by economist Michael O’Higgins against five global investment banks, each of which was found by the European Commission to have operated illegal foreign exchange spot trading cartels over a period of five years. The claim seeks damages of more than £1bn resulting from what has been widely described as the “Forex Cartels”

Why It’s Significant

The matter is significant because of the scale of impact of the FX Cartel. The case is notable as the first claim in the CAT being brought on an opt-out basis for claimants other than consumers and the first where there are two competing opt-out class cases.

Therium’s Solution

Therium is co-funding with another litigation funder and its group is expected to be the largest in the claim.

Specialism

Anti-Trust / Competition / Class Action / Collective Redress / Investor Loss

Sector

Financial Services / Banking

Case Studies

Governance Automotive Anti-trust / Competition Class Action Collective Redress Group Litigation

Road Haulage Association Limited

The Case

Therium funded collective proceedings brought by Road Haulage Association Limited acting as representative on behalf of its members and other truck purchasers before the Competition Appeal Tribunal (CAT) against European truck manufacturers found by the European Commission to have been involved in a 14 year price-fixing cartel across Europe.

Why It’s Significant

This is the first opt-in Collective Proceedings Order (CPO) made by the CAT and also the first CPO made in favour of a non-consumer class.

Therium’s Solution

Therium supported the case from the outset, including the bookbuild effort required to pursue the case on an opt-in basis. As part of the RHA’s application, Therium’s arrangements for funding and adverse costs cover were scrutinised in detail by the CAT.

Specialism

Class Action / Competition / Anti-trust / Collective Redress / Group Litigation

Sector

Automotive

Case Studies

Banking Financial Services Retail Anti-trust / Competition Class Action Collective Redress Group Litigation

Interchange Litigation

The Case

The Interchange litigation involves claims by merchants – typically retailers, hotel groups and others – against Mastercard and Visa for damages arising out of interchange fees charged by the card schemes contrary to UK and European competition law.

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Why It’s Significant

The UK claims involve hundreds of businesses, including leading retail groups, with claims amounting to billions of pounds. The litigation is a notable example of group litigation being run in the Competition Appeal Tribunal where claims are being managed together but without a Collective Proceedings Order.

Therium’s Solution

Therium is backing a wide cross-section of claimants including well-resourced corporate clients who benefit by using litigation finance in place of their own resources in order to pursue the claim.

Specialism

Group Litigation / Class Action / Collective redress / Anti-Trust / Competition

Sector

Financial Services / Retail

Case Studies