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VW investors seek 8.2b euros in damages over emissions scandal

Wednesday, September 21, 2016 - 17:09

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Volkswagen faces 8.2 billion euros (S$12.45illion) in damage claims from investors over its emissions scandal in the legal district where the carmaker is based, a German court said.

[BERLIN] Volkswagen faces 8.2 billion euros (S$12.45illion) in damage claims from investors over its emissions scandal in the legal district where the carmaker is based, a German court said.

A total of about 1,400 lawsuits have been lodged at the regional court in Braunschweig near Volkswagen's (VW) Wolfsburg headquarters, the court said on Wednesday.

The Braunschweig court said it received some 750 lawsuits on Monday alone, which marked the first business day after the one-year anniversary of VW's diesel emissions test-rigging scandal.

It said it brought in extra staff to process the suits submitted by shareholders concerned that Sept 18, the day VW's manipulations were uncovered a year ago, may be the deadline to file.

REUTERS

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