VW may face ‘multi-billion’ investor class action
Investors who lost out due to the collapse of shares may take legal action
VW is facing further legal action, this time from investors who are in the process of starting a multi-billion class action against the car giant after the shares collapsed because of the revelation that VW cheated emissions tests according to The Telegraph.
According to the The Telegraph a well-known International Law Firm has filed its first wave of class actions against VW after it said the shareholders lost a substantial amount of money following the admission that VW fitted devices to diesel cars with the intention of cheating emissions tests.
VW have so far set aside 16.2bn Euros to deal with the cost of the emissions scandal. However with them agreeing to buy back over half a million cars in the US, facing huge fine from regulators in the US, a multi-billion class action from investors and still no decision made on compensation for the UK and European market it is unlikely the money set aside will not cover the costs.
At R James Hutcheon Solicitors we have a class action against VW and we are constantly in contact with the solicitors representing them in the UK. If your car has been effected by the emissions scandal then you can join our class action now. Please visit our website for further information.