Investors look to for compensation from VW
Investors took Volkswagen to court to seek 9.2 billion euros
This is in compensation for the hit to the carmaker’s share price from its diesel emissions scandal, although the judge said some claims could be time-barred.
Shareholders representing 1,670 claims are seeking damages over the scandal, which broke in September 2015 and has cost Volkswagen (VW) 27.4 billion euros in penalties and fines so far.
It is likely that only some of the claims will be taken into account due to the statute of limitations, presiding judge Christian Jaede told the Braunschweig higher regional court as proceedings got under way, without giving a figure.
The case is so complicated that the court does not want to pin itself down, with many legal questions to be clarified, Jaede added. The court has not yet set a detailed timetable for proceedings in a case that could well end up in a higher court.
Published: by Radio NewsHub