Hearings in VW investor lawsuit on hold until end-Nov

BRAUNSCHWEIG, Germany (Reuters) - Investors suing Volkswagen for billions in compensation from the hit to the carmaker's share price from its diesel emissions scandal will have to wait until end-November for court hearings to continue, a German judge ruled on Monday. Certain claims that have been excluded from the proceedings so far will then be considered, and the basis of calculation for possible compensation payments will be decided by then, presiding judge Christian Jaede said on Monday. Shareholders representing 1,670 claims are seeking 9.2 billion euros ($10.7 billion) in damages over the scandal in a court in the city of Braunschweig.

Reuters September 18, 2018 01:06:10 IST
Hearings in VW investor lawsuit on hold until end-Nov

Hearings in VW investor lawsuit on hold until endNov

BRAUNSCHWEIG, Germany (Reuters) - Investors suing Volkswagen for billions in compensation from the hit to the carmaker's share price from its diesel emissions scandal will have to wait until end-November for court hearings to continue, a German judge ruled on Monday.

Certain claims that have been excluded from the proceedings so far will then be considered, and the basis of calculation for possible compensation payments will be decided by then, presiding judge Christian Jaede said on Monday.

Shareholders representing 1,670 claims are seeking 9.2 billion euros ($10.7 billion) in damages over the scandal in a court in the city of Braunschweig. The scandal broke in September 2015 and has cost Volkswagen (VW) 27.4 billion euros in penalties and fines so far.

(Reporting by Jan Schwartz; Writing by Ludwig Burger; editing by David Evans)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

also read

Pulitzer Prize-winning photojournalist Danish Siddiqui killed in Afghanistan: Politicans, journalists pay tributes
India

Pulitzer Prize-winning photojournalist Danish Siddiqui killed in Afghanistan: Politicans, journalists pay tributes

The Pulitzer prize winner, who was in Kandahar covering operations against Taliban, was killed when he was riding along with the Afghan Special Forces

Indian photojournalist Danish Siddiqui killed during assignment in Afghanistan's Kandahar province
India

Indian photojournalist Danish Siddiqui killed during assignment in Afghanistan's Kandahar province

Siddiqui had also covered the 2020 Delhi riots, COVID-19 pandemic, Nepal earthquake in 2015 and the protests in Hong Kong

Danish Siddiqui's passing is a reminder of the high price one pays for showing the truth
India

Danish Siddiqui's passing is a reminder of the high price one pays for showing the truth

Danish's photographs were not just documentation, but the work of someone who went down to eye-level, as they say in photographic parlance.