Hearings in VW investor lawsuit on hold until end-Nov

Image
Reuters BRAUNSCHWEIG, Germany
Last Updated : Sep 17 2018 | 11:35 PM IST

BRAUNSCHWEIG, Germany (Reuters) - Investors suing Volkswagen for billions in compensation from the hit to the carmaker's share price from its diesel emissions scandal will have to wait until end-November for court hearings to continue, a German judge ruled on Monday.

Certain claims that have been excluded from the proceedings so far will then be considered, and the basis of calculation for possible compensation payments will be decided by then, presiding judge Christian Jaede said on Monday.

Shareholders representing 1,670 claims are seeking 9.2 billion euros ($10.7 billion) in damages over the scandal in a court in the city of Braunschweig. The scandal broke in September 2015 and has cost Volkswagen (VW) 27.4 billion euros in penalties and fines so far.

(Reporting by Jan Schwartz; Writing by Ludwig Burger; editing by David Evans)

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

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

More From This Section

First Published: Sep 17 2018 | 11:34 PM IST

Next Story