Housebuilders face potential £4.5 billion class action legal case

Regulation
โดย Yahoo Finance UK·Read original
Summary · why it matters

A class action claim seeking up to £4.5 billion in compensation is being launched against seven of Britain's biggest housebuilders on behalf of more than 700,000 homebuyers. The claim targets Barratt Redrow, Bellway, The Berkeley Group, Bloor Homes, Persimmon, Taylor Wimpey, Vistry Group and its Countryside Partnerships division, alleging that consumers paid higher prices for new-build properties due to anti-competitive behaviour. It follows a Competition and Markets Authority investigation into whether the firms shared commercially sensitive information, which was dropped in return for a £100 million payment into affordable housing programmes and binding commitments. The action, led by former Which? manager Mark McLaren and represented by law firms Geradin Partners and Hausfeld, estimates each affected homeowner could receive between £3,100 and £6,200, totalling between £2.2 billion and £4.5 billion. The case will now go to the Competition Appeal Tribunal for approval.

Impact on stocks 6

Consumer Discretionary▼ · 6 stocks
Vistry Group PLC
VTY
▼ NegativeRegulationrelevance

Vistry Group is one of the seven housebuilders facing a £4.5 billion class action lawsuit for alleged anti-competitive behavior.

Barratt Redrow plc
BTRW
▼ NegativeRegulationrelevance

Named in class action alleging anti-competitive behavior, seeking up to £4.5B compensation.

Bellway PLC
BWY
▼ NegativeRegulationrelevance

Named in class action alleging anti-competitive behavior, seeking up to £4.5B compensation.

Persimmon PLC
PSN
▼ NegativeRegulationrelevance

Named in class action alleging anti-competitive behavior, seeking up to £4.5B compensation.

Taylor Wimpey PLC
TW
▼ NegativeRegulationrelevance

Named in class action alleging anti-competitive behavior, seeking up to £4.5B compensation.

Off-coverage companies 1

Bloor HomesPrivate▼ Negative
Regulationrelevance

Bloor Homes is one of the seven housebuilders facing a £4.5 billion class action lawsuit for alleged anti-competitive behavior.

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