U.S. judge grants preliminary approval to $48 million Volkswagen investor settlement

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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, Robert Bosch will pay $1.55 billion to settle U.S. diesel claims

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Volkswagen has accepted pay at least $1.22 billion to repair or buy back nearly 80,000 polluting U.S. 3.0 liter diesel-engine automobiles to settle claims it fitted illegal emissions-cheating software to the vehicles, court documents revealed. Auto supplier Robert Bosch GmbH also agreed to pay $327.5 million to U.S. diesel Volkswagen owners, as per the files […]

Audi to buy back 25,000 diesel engine Q7 models in U.S.

Volkswagen‘s premium division Audi is going to buy back 25,000 diesel engine vehicles in the United States to compensate owners whose vehicles do not satisfy exhaust emission standards, German weekly Der Spiegel noted. Audi representatives remain in talks with U.S. authorities about repairing 85,000 vehicles which stopped working exhaust tests. Initial discussions have revealed that […]

After losing $6.2B last year, Volkswagen pledges $18B to state emissions concern

Volkswagen recently came up a monetary statement that it delayed for months while the firm’s diesel emissions scandal unfolded. The firm has actually now reported a record loss of $6.2 billion for 2015. Moving on, Volkswagen Group also stated it would reserve EUR16.2 billion ($18.22 billion) to start covering “technical modifications,” legal claims, and other […]