Volkswagen to be sued by Norway fund over emissions scandal

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A wealth fund from Norway which is on of the world’s largest, plans legal action against Volkswagen over the firm’s emissions scandal according to the BBC. The wealth fund has been told that the companys conduct will alow them to make legal claims under German law.

Norges Bank Investment Management is worth $850bn (£592bn; €751bn) and has stakes in more than 9,000 companies. According to the Financial Times, which first reported the story, the lawsuit is expected in the coming weeks. It will be filed in Germany, joining class-action cases which are being prepared there.

A spokesperson from the wealth management group advised that it is their resposibility to safeguard their investments.

Volkswagen has put aside some €16.2bn to pay for the emissions scandal. It faces action from US Department of Justice, the Federal Trade Commission and its own dealers. There are also a raft of claims waiting to be heard in the UK.

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