Volkswagen and a law firm say the German automaker has agreed to pay up to 127 million Australian dollars ($87 million) to settle an Australian class action stemming from its 2015 diesel emissions scandal.
The settlement was announced in the Federal Court in Sydney on Monday and has yet to be approved by a judge.
Maurice Blackburn law firm says Volkswagen will pay between AU$87 million and AU$127 million, depending on how many owners of the affected 100,000 vehicles sold in Australia join the class action.
Volkswagen said in a statement that it made no admission of liability in the settlement.
Volkswagen has paid 30 billion euros ($33.5 billion) in fines and civil settlements around the world after it installed software on diesel vehicles to cheat on emissions tests.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app