16 Mar '16, 4am

Volkswagen Sued in Germany for $3.7B Over Diesel Scandal

Volkswagen Sued in Germany for $3.7B Over Diesel Scandal

Volkswagen is being sued for $3.7 billion by investors worldwide. The company is already dealing with lawsuits in the U.S. over its dieselgate scandal, and now 278 institutional investors from around the world are filing a lawsuit against Volkswagen AG in Germany. The suit claims that the German automaker failed to publish information about the emissions scandal in a timely manner and is now the biggest legal challenge it faces to date. In a statement, the court said that 70 cases are pending in Braunschweig, where the lawsuit was filed. Volkswagen has refused to take part in settlement negotiation and won’t waive a statute of limitations defense, so it has become necessary to file the lawsuit. SEE ALSO: VW to Dismiss 3,000 Office Workers in Germany Over the year, the company’s shares have fallen 16 percent in Europe and continue to decline as a result of the diesel scanda...

Full article: http://www.hybridcars.com/volkswagen-sued-in-germany-for-...

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