A U.S. judge in California has okayed preliminary approval to a $48 million settlement for investors who stated Volkswagen AG made incorrect and misleading statements about its excess diesel emissions. Lawyers for the investors, who include police and other municipal pension funds, had calculated that the highest they could have recovered was $147 million. However
Volkswagen has paid $2.9 billion to buyback almost 138,000 U.S. diesel automobiles through February 18 due to its emissions scandal, a court file made public on Tuesday reveals. The report by an independent claims supervisor stated the automaker is buying back and ending leases on about 15,000 automobiles a week. Volkswagen has made deals to
Volkswagen and previous CEO Martin Winterkorn should defend an investor lawsuit in California over the automaker’s diesel emissions scandal, a U.S. judge ruled on Wednesday. U.S. District Judge Charles Breyer also turned down a request by Volkswagen brand chief Herbert Diess to have the proposed securities fraud lawsuits threw out of a California court. Other
Volkswagen has accepted a $1 billion settlement to fix or repair another 80,000 contaminating diesel vehicles sold in the United States as the German company on Tuesday took new actions to put its emissions cheating scandal behind it. The settlement deal covered high-end Volkswagen, Audi and Porsche vehicles having 3.0-liter engines, indicating Volkswagen has now
On Monday a federal judge gave Volkswagen, U.S. regulators and lawyers for vehicle owners a final extension to attempt to reach a deal for the remaining 80,000 automobiles caught in the automaker’s emissions cheating scandal. U.S. District Judge Charles Breyer stated that negotians were made complex, with lots of details that needed to be exercised.