8:26 am, July 10, 2024
Leading automotive sector accountants UHY Hacker Young have teamed up with commercial dispute lawyers Humphries Kerstetter to bring an action against six big-name tyre distributors and resellers.
UHY Hacker Young claims that some businesses may have been overcharged millions of pounds for tyre supplies by certain suppliers in recent years, stating that any business that has an annual purchase of tyres of at least £500,000 in stock involving specific brands may be eligible for a claim.
Those tyre brands include: Pirelli, Continental, Michelin, Nokian Renkaat, Bridgestone and Goodyear.
UHY Hacker Young, a leading automotive accountancy network with 96 partners and around 720 professional staff, has selected Humphries Kerstetter based on its track record of obtaining positive results for retailers.
The law firm recently obtained a succesful outcome on behalf of retailers against Visa and Mastercard for excessively high ‘interchange’ card fees.
‘Humphries Kerstetter, which recently had great success against Visa and Mastercard, has identified a further opportunity for dealers to be awarded damages surrounding the potential overcharging of tyres and tyre supplies by global leaders in the business,’ David Kendrick, chief executive of UHY Hacker Young, told CarDealer.
‘We highly recommend that tyre retailers, or anyone in the business that spends more than £500,000 in stock involving the brands have mentioned, get in touch with us, as this could prove a nice windfall down the line,’ he added.
In a similar move to its previous legal endeavours, Humphries Kerstetter’s new action for tyre distributors and resellers will require no upfront costs to clients, with payments to funders and related parties made from the recovered damages.
Retailers that have purchased in excess of £500,000 in stock from the previously mentioned distributors or resellers are asked to fill out a simple questionnaire and send on to staff at UHY Hacker Young, who will determine the best course of future action.
CarDealer approached all of the tyre manufacturers highlighted by UHY Hacker Young and Humphries Kerstetter for comment, but we are yet to receive a response.
