Friday, June 22, 2012
Posted by D. Daniel Sokol
The Lear Study on Collective Redress in Antitrust by Paolo Buccirossi, Michele Carpagnano, Lorenzo Ciari, Massimo Tognoni and Cristiana Vitale with contributions by Luca Aguzzoni, Marco Bellia, Gaia Bellomo and Riccardo Zecchinelli is now out.
ABSTRACT: Consumers regularly suffer harm in the form of higher prices, lower output, reduced quality and limited innovation as a result of antitrust infringements but they are rarely compensated due to legal and practical obstacles. Collective redress is a mechanism that may accomplish the termination or prevention of unlawful business practices which affect a multitude of claimants or the compensation for the harm caused by such illegal practices. This study analyses the systems of collective redress for breach of competition law in the area of antitrust in the EU. Starting with an overview of the relevant national and EU legislation in this area, it discusses the question of an EU-wide specific system for collective redress in antitrust and the legal basis for a legislative initiative at EU level. Finally, it assesses advantages and limits of different policy options in relation to several procedural rules both generally applying to collective actions and specifically relevant to collective redress in antitrust.