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UHY Hacker Young has announced a partnership with law firm Humphries Kerstetter LLP to unveil the potential overcharge reclaim for tyre supplies.
It comes as an update on the ongoing legal action that has been targeting specific tyre distributors and resellers.
The two firms believe that, over the years, people may have been overcharged millions of pounds for tyre supplies by certain suppliers.
It said this partnership aims to bring legal action to the attention of potentially affected market participants, as well as the opportunity to reclaim this overcharge through legal action in the English courts.
Tyre suppliers the action will be against include Pirelli, Continental, Michelin, Nokian Renkaat, Bridgestone Corp., and Goodyear Tire and Rubber Co.
To be considered for a viable claim, the annual purchase of tyres must be at least £500k in stock involving the above brands.
Humphries Kerstetter LLP has previously obtained a successful outcome on behalf of retailers against Visa and Mastercard for excessively high ‘interchange’ card fees, and it was done at no cost to its clients as funding was provided to finance the litigation costs and insurance was obtained to cover the risk of adverse costs awards made by the court.
Humphries Kerstetter’s new action for tyre distributors and resellers will also follow the same model: no upfront costs to clients, with payments to funders and related parties made from the recovered damages.
