Shareholders will be served a multi-billion dollar claims against Volkswagen

Shareholders will be served a multi-billion dollar claims against Volkswagen


Moscow. October 18. Bentham financial group of investors headed by German automaker Volkswagen to win back his € 40 billion because of the recent scandal with falsification tests for the emission of engine pollutants, reported the newspaper the Telegraph.

Filing Bentham hired lawyers offices of Quinn Emanuel, which sued to their customers almost $50 billion. She was represented in court the interests of Google, Sony and FIFA. Now the lawyers are negotiating with Volkswagen such investors, as funds of Qatar and Norway to try to persuade them to join the suit.

Lawyers estimate losses of its clients in 40 billion Euro.

In September it became known that in diesel engines of Volkswagen installed a device that allowed to reduce the recorded amount of pollutants emitted into the atmosphere. Because of this, the value of the shares of the German auto giant fell to 25 billion euros.

The company acknowledged that 11 million vehicles are equipped with engines that have passed the rigged tests. However, in the Board of Directors allegedly not aware of the fraud.

However, the scandal led to the resignation of the General Director of Volkswagen. Now the company is run by Matthias Muller.