Association to launch class-action lawsuit against alarm companies

An association announced that it would sue on behalf of Norwegians who were home alarm customers at Sector Alarm and Verisure between 2011 and 2017.

The association Alarmkundeforeningen believes that the alarm companies have – through illegal price cooperation – overbilled the customers between NOK 1 and 2 billion. They demand that the companies repay the amount to customers.

The notified lawsuit may include around 400,000 customers.

In November, the companies were fined more than NOK 1 billion by the Norwegian Competition Authority for illegal cooperation in the sale of home alarms. Sector Alarm has acknowledged its fine, while Verisure has announced that it would appeal the Competition Authority’s decision.

According to the newspaper Finansavisen, the company Therium is behind the class-action lawsuit.

On Therium

Therium Group Holdings Limited, a leading global provider of litigation finance globally with over USD 300 million in committed
capital, launched operations in Scandinavia as Therium Nordic AS, headquartered in Oslo, in 2016.

The company finances lawsuits for plaintiffs who believe they have a good case but cannot afford or will not risk financing the lawsuit themselves. Therium will thus also receive a percentage of the compensation payment if the plaintiffs win, the newspaper writes.

The two alarm companies told the newspaper that they are not aware of any class-action lawsuit and cannot comment on the information.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayNews

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