German auto giants Volkswagen, BMW and Daimler were hit with lawsuits this week charging the companies colluded illegally to drive up the prices of their cars. The suits filed almost simultaneously in US and Canadian courts come as European authorities investigate the German carmakers cartel which allegedly struck unlawful bargains to share technology and strategy. That collusion harmed buyers because "they paid more for German luxury vehicles than they otherwise would have," said the plaintiffs, who claimed to represent an entire class of American buyers. The suit filed in Montreal made similar allegations and seeks $878 million (CAN $1.1 billion) in damages. "We consider these class action suits to lack merit," a spokesperson told AFP in an email.

Source: The Local July 28, 2017 07:07 UTC