Car giant VW are being sued by investors due to emissions scandal

Car giant VW are being sued by investors due to emissions scandal

Bloomberg have reported that 278 institutional investors from around the world have started legal proceedings in Germany against VW after how it informed markets about the scandal when it was first revealed. The nucleus of the law suits relate to the loss investors made on VW stocks which sharply declined after the scandal was made public, however it wasn’t until 4 days later that the market were made aware of the scandal, Volkswagen are therefore accused of not acting in a timely manner.

This is another setback for the car company according to the article in Bloomberg.

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