Wednesday, September 21, 2016

VW is facing lawsuits 8.200 million euros in Germany – Deutsche Welle

A year after exploit this scandal also known as “diéselgate”, some 1,400 claims for compensation of investors expect to be dealt with before the Provincial court of Braunschweig, competent, in the case of the manipulation of the emissions of gases of diesel vehicles Volkswagen (VW).

Of these claims, amounting to a total of 8.200 million euros, approximately 750 were filed mostly by private investors, through a firm of lawyers this same Monday, 19 September, when closing deadline for orders of compensation. However, at least two of these claims also belong to institutional investors and up to the amount set of 2,000 million euros, reported the Landgericht Braunschweig.

in Addition, the pension fund of bavarian demands a compensation of 700,000 euros, the federal state Baden-Württemberg calls for 1.1 million euros and the reserves of the special fund of Hesse demanded 4 million euros.

South Korea

Meanwhile, in South Korea, the person in charge of the certification process of Volkswagen became the first executive of the central office of the German mark in testifying before the Prosecutor’s office of South Korea in relation to the case of alleged manipulation of emissions data.

the identity of The executive has not been revealed already that you do not appear in quality of the suspect. Before entering the courthouse for the Central District of Seoul, the man said to the press that he came to South Korea as an employee of Volkswagen to cooperate with the investigation of local authorities and to clarify the facts is very important for the company, according to statements collected by the local agency Yonhap.

This appearance is joined to the several officers referred to above, including the executive director of the unit, south Korean, Thomas Kuehl, the director of Audi Volkswagen in Korea, Johannes Thammer. According to the investigation, the Ministry of Environment had already asked in 2011 to the company to explain the excessive emissions of nitrogen oxide from their vehicles. Prosecutors want to know why Volkswagen did not provide the necessary information then, and if the headquarters participated in the fraud, which affected the local unit.

The case of alleged manipulation came in 2015, when it was discovered that the German manufacturer had used a fraudulent software to distort the emissions of their vehicles in several countries, among them South Korea. The south Korean Government has imposed several fines to Volkswagen in relation to the case, the most recent last August 2-17.800 million won (14.3 million euros/ $ 16 million-, when in addition to revoked certificates and banned the sales of 80 models of Volkswagen in the country.

united States

the united States has also sued Volkswagen for a compensation of 30 million euros. Volkswagen, which last year had a loss of almost 1,600 million euros, is facing the demands of numerous shareholders who consider that reported to the market too late and has caused losses. These demands of institutional investors and individuals, has joined recently the asset manager Blackrock.

The Environment Agency of EE. UU. (EPA) publicly accused VW of handling the 18 of September of last year, but until the 22nd of September, VW is not revised down its profit targets for 2015. Shares of Volkswagen were the 18 of September 2015 162,40 euros, at the closing of the deal, hours before it was released, the manipulation. On the 2nd of October had already fallen to 92,56 euros, a 43 % less, although have been recovered, and now cost about 120 euros.

RML (efe, Reuters, afp)

LikeTweet

No comments:

Post a Comment