Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.


Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

Shareholders seeking $10.6 billion from VW over emissions disclosure

Neil Hodge | September 13, 2018

Shareholders seeking damages worth €9.2 billion (U.S. $10.6 billion) have taken German car giant Volkswagen to court in Germany for failing to inform them fully of the financial impact that the emissions cheating scandal would have on the company’s share price.

Investors representing nearly 3,500 claimants are seeking compensation amounting to around a third of the €27.4 billion (U.S. $32 million) that the company has already paid in penalties and fines so far over “Dieselgate.” Investors who are not yet part of the claim have until the end of the year to join.

It is one of the most significant German investor actions against a company in more than a decade and involves one of Germany’s largest asset managers, Deka Investment.

The court has not yet set a detailed timetable for proceedings. Lawyers, however, expect that the case could go into 2019 and end up in a higher court.

The scandal broke on 18 September 2015, when the U.S. Environmental Protection...

Read this single article for $49, or click the subscribe button below to review subscription options.

Enjoy unlimited access to thousands of articles, browse five years of digital magazines, qualify for reduced admission to events, and more.