Sunday, February 28, 2016

VW will pay vigorously: US law firm prepares class actions – n-tv.de NEWS


 Economy

 


 Sunday, February 28, 2016

 
 
 


 
 That the gas scandal Volkswagen is costly, is an open secret. A US attorney estimates the average loss at 1,000 to 1,500 euros per German victims. But other groups want to complain.

 


 
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Up to 75 million euros in damages to his Volkswagen affected by diesel scandal German customers pay when it comes to the will of US lawyer Michael Hausfeld. His partner Christopher Rother told the “Tagesspiegel” that VW was obliged to pay compensation, was “indisputable”. The only question was, how much

Rother is the Partner of the law firm of Hausfeld in Berlin office. Hausfeld is one of the firms who complain in the US against the carmaker. The lawyer expects tens of thousands of victims in this country, as he told the Berlin appearing Journal. “. At about 50,000 injured one had reached a critical mass that takes VW seriously”

The average loss amounted Rother 1000 to 1500 Euros – so come on VW up to 75 million euros in damages payment to. In the US, are affected VW customers get a prepaid credit card, a discount on purchases at a VW dealership and roadside assistance for three years. “Why should German Volkswagen customers away empty, only because in Germany, no way to class actions are like in the US?” Rother said.

The firm was together with the US litigation funder Burford with so-called legal service talking, to collect the thousands of VW customers demanding damages. Burford is loud “Tagesspiegel” for the process of ten million euros.



investor compensation?

US attorney Hausfeld himself told the “Welt am Sunday, “his office also examine class actions for compensation of investors and environmental organizations. He hopes that it will not let VW come to the process and instead going for a comparison. “VW white: The faster you adjusted such a crisis, the better,” Hausfeld said. Only in this way, the group could “restore the credibility of its brand and customer confidence again”.

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The President of the German protection combination for security possession, Ulrich Hocker, advised VW shareholders in the “Welt am Sonntag”, they should wait to get what result the financial BaFin initially. The Authority is examining whether VW has informed its investors late on possible risks as a result of manipulation of emission values.

Volkswagen had admitted on September 22 that the world at around eleven million diesel vehicles of several brands a manipulation software was used, which reported to the low nitrogen oxide emissions in the test mode. In a letter dated 4 September letter a manager have the former CEO Martin Winterkorn informed that VW had given the manipulation against the California Air Resources Board Carb on September 3, reported the “Bild am Sonntag”.

VW but only more than two weeks later, to inform the public, to which the price of the VW shares crashed. The Securities Trading Act stipulates that price-sensitive corporate messages must be released immediately.

  Source: n-tv.de
 


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