Published On: Sat, Mar 5th, 2016

VW defends itself from shareholders lawsuits

Contrary to previous claims, the former VW boss Martin Winterkorn knew one and a half years before becoming aware of the VW scandal problems with emissions from diesel passenger cars. Because it went at the possible cost to only to low millions, he has perhaps not properly perceived the information…VW defends itself against lawsuits by shareholders. Who want to be notice in court that they were informed too late about the diesel scandal. Because this scandal was of course relevant to the stock price. This is an illegal practice. The carmaker which is naturally different and a very detailed explanation now proposing, where he first admits that CEO Martin gain in winter and grain in may 2014 the problems. At the same time relativistic VW massively drop this information and gives the impression to the Board what would have happen a day earlier than he did.

“In connection with the subject of the diesel a course relevance arose only on 18 September 2015, when the violation of American environmental policy was made known. Until then, there were no signs of stock market price-sensitive information… “, is said in the statement.

Volkswagen achieved a success in court now at least once: the manufacturer must completely withdraw his cars with cheat software as goods with significant defects. The Bochum decided at least on an appropriate action, that was cheap and relatively easy to eliminate the lack and compulsory withdrawal would therefore not be appropriate.

Recall of the Passat soon will start

While the legal education as a whole sure still long VW tries to resolve the technical problems. So far, only the recall of the niche model Amarok was but settled in Germany. The pickup was just 8000 copies. Next is a completely different number: Passat. The recall of these models planned from 29 February was moved from the Kraftfahrt-Bundesamt, after the Amarok tests of the magazine Auto Motor Sport had revealed that the software update leads to significantly higher consumption at constant values of nitric oxide.

The carmaker has received anyway, still no green light from the Kraftfahrt-Bundesamt, which must approve any conversion measures. This launch could take place but in the coming days. Overall, VW in Germany must call some 2.4 million cars in the workshops.


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