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 plans to develop new SUV in Tennessee plant

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Volkswagen prepares to build another brand-new sport utility vehicle at its Chattanooga, Tennessee, plant following the increase in demands for bigger vehicles, the German company’s top U.S. executive stated. Volkswagen Group of America CEO Hinrich Woebcken informed press reporters at the New York International Auto Show that the company prepared to develop a five-seat SUV […]

Judge William Turnoff orders Volkswagen executive detained in U.S.

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A U.S. judge has ordered a Volkswagen executive charged in the Justice Department’s emissions scandal investigation held without bail pending trial. Oliver Schmidt was jailed Saturday at Miami’s International Airport as he prepared to fly home after a holiday. He was among 6 existing and previous Volkswagen executives charged in U.S. District Court in Detroit, […]