VW Settles Securities Class Action for $48 Million

August 30, 2018 by

Volkswagen has agreed to settle a class action brought by investors arising out of its diesel emissions-cheating scandal. The complaint alleged that it knowingly issued false financial statements about its exposure and liabilities.

The settlement involves a class of thousands who bought Volkswagen ordinary and preferred American depositary receipts between November 2010 and January 2016. The investors claim the deal is good for the class because, in order to win at trial, they would have had to prove not only that Volkswagen made misleading statements about “clean diesel” vehicles, but also that those misrepresentations were reckless or intentional.=

The case is In re: Volkswagen “Clean Diesel” Marketing, Sales Practices and Products Liability Litigation, case number 3:15-md-02672, in the U.S. District Court for the Northern District of California.


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Steve Larson
An experienced trial lawyer who handles both hourly and contingent fee cases, Steve has expertise in class actions, consumer cases, antitrust litigation, securities litigation, corporate disputes, intellectual property disputes, unfair competition claims, employment matters, and disputes involving family wealth. Steve regularly represents individuals and businesses in federal and state court and has obtained class-wide recovery in multiple class actions. A veteran practitioner, Steve's clients value his creative approach to resolving complex litigation matters.

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