Hearings in Volkswagen investor lawsuit to wait until end-November

by SpeedLux
Volkswagen brand logo

Investors taking legal action against Volkswagen for billions in compensation from the hit to the automaker’s share cost from its diesel emissions scandal will need to wait until end-November for court hearings to carry on, a German judge ruled on Monday.

Certain claims that have been not included from the proceedings so far will then be considered, and the foundation of calculation for possible compensation payments is going to be decided by then, presiding judge Christian Jaede stated on Monday.

Shareholders accounting for 1,670 claims are seeking 9.2 billion euros ($10.7 billion) in damages concerning the scandal in a court in the city of Braunschweig. The scandal broke in September 2015 and has cost the automaker 27.4 billion euros in penalties and charges so far.

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