VW hit by flood of new lawsuits in emissions scandal

By BBC/Evelyne Wareh

Volkswagen is facing €8.2bn ($9.1bn; £7bn) in damages claims from 1,400 German investors over its emissions scandal, a state court has said.

The regional court in Braunschweig near VW’s Wolfsburg headquarters said it received 750 lawsuits on Monday alone.

A year ago, an investigation in the US found that VW had cheated emissions tests for diesel cars by using special software. VW faces a flood of actions and has set aside €16.2bn to cover the lawsuits.

The court said it brought in extra staff to process the claims submitted by shareholders, who were concerned that 18 September, the day VW’s manipulations were uncovered a year ago, may be the deadline to file. It said most of the cases were bundled actions containing claims from multiple plaintiffs, in many cases private investors.


Latest posts

China applies to join key Asia-Pacific trade pact

Ronald Owili

Bitcoin protests in El Salvador against cryptocurrency as legal tender

Ronald Owili

StanChart $50M facility from AfDB to boost African intra-trade

Ronald Owili

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More