January 06, 2020
The law firm has also filed a motion
The law firm has also filed a motion for a so-called model claims, a German
legal procedure which — for lack of US style class-action lawsuits — famous
Aluminum multi ladder manufacturers uses court rulings won by individual
investors as templates to set damages for others that are equally affected.61
billion), was filed at a regional court in Braunschweig in VW’s home state of
Lower Saxony on Monday and is being brought by 278 investors from all over the
world, including German insurers and US pension fund Calpers.
The Volkswagen
Group’s deliveries in February had dropped by 1.Mr Tilp in October filed a
lawsuit on behalf of retail investors.Volkswagen earlier this month published an
account of the events leading to the violation of US emissions law being
publicly announced by the US Environmental Protection Agency. Law firm TISAB
said the lawsuit was over whether VW neglected its duty to the capital markets
regarding the timeframe between June 2008 and September 18, 2015.
A spokesman for
VW said the carmaker could not comment because it had not been sent the suit.The
lawsuit, for damages of 3.Nearly 300 investors join hands to sue German car
maker Nearly 300 investors join hands to sue German car makerAlmost 300
institutional investors in Volkswagen have filed a multi-billion euro suit
against the carmaker for what they see as breaches of its capital markets duty
in the emissions scandal, the law firm representing them said per cent to
693,300 vehicles, compared with the year-earlier month, in the wake of
revelations that the carmaker cheated on exhaust emissions tests."Due to the
fact that — according to our information and experience — Volkswagen AG
persistently denies any settlement negotiations and also refuses to waive the
statute of limitation defense until now, it was necessary to file this first
multi-billion euro lawsuit,†lawyer Andreas Tilp said in a statement.256 billion
euro ($3
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