Volkswagen sued by investors over handling of emissions scandal

by SpeedLux

Institutional investors are taking legal action against Volkswagen for $3.57 billion in damages over the firm’s handling of its emissions scandal, which has up until now seen the share cost fall by about a 3rd.

Lawyer Andreas Tilp stated Tuesday that the suit in the German local court in Braunschweig was signed up with by financiers from 14 nations, consisting of the United States, Australia, Germany, Canada, the Netherlands, and the UK. Amongst the complainants is CalPERS, the huge pension fund for government workers in California.

Volkswagen had no instant reply about the suit, however, firm stated that investor claims in Germany lack any merit.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

SpeedLux

SpeedLux is a high-authority automotive blog providing the latest automotive news and reviews. SpeedLux covers everything related to cars, bikes, and motorcycles, from news and reviews, to troubleshooting guides, tips and tricks, and more. SpeedLux was born in 2009 and we have over 20,000 articles published on our blog. We thank all our readers, as well as our partners, without whom we could not have reached this level.

Subscribe

©2009 – 2024 SpeedLux – Daily Automotive News and Reviews. All Right Reserved.