Investors in court against VW seeking $10.7 billion over diesel scandal

$10.4-billion lawsuit over diesel emissions scandal opens against Volkswagen

NO CHANCE IN HELL

Investors, including the California Public Employees’ Retirement System, squared off with Volkswagen in German court on Monday, seeking $10.7 billion in compensation for the damage done by the German automaker’s diesel emissions scandal.

The backlash from VW’s attempts to cheat on diesel-emissions tests has cost the company more than $30 billion in penalties so far. On the first day of the trial, the court indicated that some of the 1,670 claims might be too old to be considered, and that several key issues had to be resolved before witnesses testify.

Andreas Tilp, a lawyer for some of the plaintiffs, said some of the claims have a good chance. “We are very confident that there will be money at the end of the day,” he said.

Read More
%d bloggers like this: