The troubles don't end for Volkswagen. The German company still pays the price for the dieselgate scandal: today the announcement of another maxi lawsuit, the heaviest among the 67 filed so far, according to the German provincial court of Braunschweig, in Lower Saxony. A group of 278 large institutional investors presented a request for compensation for a total of 3,255 billion euros, for damages caused by emission test results cheating
Attorney Andreas Tilp, who represents investors, told Bloomberg the multibillion-dollar lawsuit is based on theaccused of not fulfilling the obligation to inform its shareholders. For its part, the Wolfsburg house, which refused to seek an agreement with these large shareholders, however reiterated once again that it had complied with all information requirements.
The investors who sued have purchased Volkswagen shares since mid-2008 and now they are demanding compensation for the losses caused by the scandal that broke out in the United States, which then spread to Europe. Among them are 17 holding and insurance companies based in different countries, the Californian pension fund Calpers and Deka, the Sparkassen asset management company. According to Tilp, who filed the first complaint on behalf of a group of retail investors in October, another 20 institutions are considering a further 1 billion euro lawsuit.
