Shareholders To Sue VW In Germany Over Emissions Scandal

By Dennis

Published: Tuesday, January 19, 2016, 12:06 [IST]

A group of large shareholders in Volkswagen and thousand of private investors will file a lawsuit against Volkswagen in Germany seeking compensation for the plunge in its shares due to its emissions test cheating scandal.

Law firm Nieding + Barth has stated that it will be filing a lawsuit on behalf of the affected investors in a regional court in Braunschweig, Germany this week. The German automaker is also facing civil cases in the United States and its South Korean Unit MD is facing criminal charges over the issue.

Also Read: South Korea To File Criminal Case Against VW & Audi Chief

Volkswagen shares have dropped by almost $24 billion since the emissions scandal was unearthed in September.