Volkswagen, in Germany to process 4 billion for Dieselgate – Il Sole 24 Ore

After the mega-fine imposed by the US, Volkswagen opens the European front: the Italian Antitrust Authority imposes a five million euro fine, and, above all, Germany is going to be opened a process that could cost even up to four billion to the automotive giant Wolfsburg. Almost a year after the outbreak of the scandal of rigged tests with software, in the wake of the “Dieselgate” it is still long. It’s been less than two weeks from the green light to the agreement of the United States courts between Volkswagen and the US authorities: the transaction by 14.7 billion dollars, a blow to the budget of the group, which also ended the first half of 2016 with a profit operating income of 7.5 billion despite the decline in sales in the US.

The Italian fine

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In Europe, the times are longer. The EU calls for compensation to European customers like American ones, but the negotiations inevitably involves politics. The group is undertaking the planned recall of about 800,000 cars, about 4.6 million worldwide against 11 million cars involved. The EU has made it known, in June, it had not yet received a report from Italy on the Volkswagen car testing under indictment. Consumers are restless and they say that in the Peninsula “all is quiet.” Meanwhile moves the Antitrust, with a fine, five million euro, equivalent to “standard maximum”, imposed for conduct “unfair under the Consumer Code ‘which induced consumers to make choices that they would not have done if they had known of ‘real pollution from cars Vw. With the aggravating circumstance of advertisements and claim which extolled a particular environmental sensitivity.

In Germany the pilot process
“A court paves the way for a pilot process,” he titrated while the business daily Handelsblatt website, referring to the decision Friday by a court of Braunschweig and made public today by the DPA quoted a magistrate. The court has submitted to the court of appeals’ content issues and law on the scandal of emissions and possible claims by shareholders, “sums Spiegel Online. The opening of the trial-pilot could take place in the last quarter of this year but the deadline is uncertain, he writes the Handelsblatt citing the judge Maike Block-Cavallaro.

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“It’s the starting gun,” he said Cavallaro Block-to dpa using an Olympic-sports metaphor to give the sense of last Friday’s decision. Spiegel notes that the applicants accuse Volkswagen to have them informed too late about computer manipulation to bypass environmental regulations on diesel engines and have suffered damage on the stock market after the scandal erupted in September last year.

The use heavier for Wolfsburg, “from EUR 3.255 billion of” has been advanced on behalf of 277 institutional investors by a lawyer of Tübingen, Andreas Tilp. The “second largest group of applicants”, asking nearly 680 million Euros, is represented by the legal Quinn Emanuel. Investors who have not asked for a “Musterverfahren” (process model), should expect a decision in this test case, still remembers the weekly site.

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