Shareholders demanded 9.2 billion euro from VolkswagenSeptember 7, 2018
Investors are asked to compensate for the damage associated with “dieselgate”
The Volkswagen Group received 1670 complaints from shareholders demanding compensation for damages related to “dieselgate”. They believe that the company’s management was to notify them of the scale of the upcoming scandal, because of which the share price in a short time decreased by 37 percent. The total amount of claims amounted to 9.2 billion euros.
Volkswagen accusations denied. According to the company, the management was not aware of the upcoming disclosure of information on manipulation with the emission of harmful substances, as it expected to settle the matter privately. Investors, on the contrary, are sure that a small group of people were still aware of the violations and they should have informed the interested parties in a timely manner.
The scandal with the manipulation of data on harmful emissions cost Volkswagen 27.4 billion euros. “Dieselgate” was the reason for the departure of the company’s management in the resignation and recall of 11 million cars around the world. The amount of lawsuits and fines was $ 90 billion. Later, Porsche and Audi were also suspected of involvement in falsification.
Recently, the Volkswagen plant caused a drought in the Mexican state of Puebla. According to local farmers, installed in the area of the plant special guns, which are dispersed by acoustic waves in the clouds, do not allow rain in the whole region.