- Volkswagen has agreed to compensate many of its customers for selling them unclean diesel vehicles, but now the automaker may also have to pay investors. The automaker faces 1,400 lawsuits from investors in Germany who say they lost money from the scandal.
Investors argue that VW failed to tell them it was facing costly legal action from U.S. authorities over emissions cheating, reports Bloomberg. Presumably, this would have given them the chance to sell their shares before they dropped. Meanwhile, VW dismisses the claims, saying it followed all the rules in disclosing the scandal.
kleinbl00, this article is short on info but full of scheudenfreud (or whatever that German word is).
Yeah. I thought about how it's interesting they could do something like that in Europe. I figured they'd even have tighter laws than here in The States. If American investors decide to do something similar and sue, they'd probably have a case. They just might have to go about it in a different manner. Willful negligence or something maybe.
Dude! I remember stuff being screwy when that happened (mind you I was just getting into cars at the time and didn't pay half a mind to businesses), but I didn't know it was that crazy. That article read like some kind of thriller, schemes and twist endings and all.
There were a couple hedge fund managers who committed suicide, as I recall. http://www.reuters.com/article/us-merckle-newsmaker-sb-idUSTRE5055O820090106