46811
Bavaria Will Sue VW Over Emissions Scandal
Economy, Auto

Bavaria Will Sue VW Over Emissions Scandal

The German state of Bavaria said it will sue Volkswagen Group for damages caused by the emissions-test cheating scandal, the first regional government in VW’s home country to take legal action against the automaker.
Bavaria’s state pension fund for civil servants lost as much as €700,000 ($783,580) after VW shares plunged in the wake of the September 18 announcement by US regulators that VW had rigged diesel engines to lower NOx pollution, Auto News reported.
The pension fund lost out from the fall in shares, Bavarian Finance Minister Markus Soeder told German news agency Deutsche Presse-Agentur today.
“We want this money back,” said Soeder, a member of the Christian Social Union sister party of Chancellor Angela Merkel’s Christian Democrats.
The fund plans to file a lawsuit against VW in September at the regional court of Brunswick, near VW’s Wolfsburg headquarters.
Bavaria is home to German blue-chip companies, including BMW, Siemens and Allianz.
So far, none of Germany’s 16 federal states has taken legal action against VW over the scandal.

Short URL : http://goo.gl/bp2CxD
  1. http://goo.gl/e8Ty1s
  • http://goo.gl/IWPtke
  • http://goo.gl/P1aYyd
  • http://goo.gl/odGh9R
  • http://goo.gl/tJB68l

You can also read ...

EU Rushes to Protect Economic Interests in Iran
With a reputation of a slow-working institution that only gets...
Swiss Firms Preparing to Quit Iranian  Market Over US Sanctions Risks
Several Swiss newspapers on Sunday reported that Swiss firms...
German Companies Cannot Be  “Totally Shielded” From US Iran Move
The German government will help German firms with business in...
Chabahar’s Shahid Beheshti Port: Cheapest Business Option in Region
With new moderated prices for services offered at Chabahar’s...
Google Stands to Lose Up to $4.3b in UK Privacy Suit
Google appeared in a UK court on Monday to argue against a...
HTC’s Next Flagship Specs Leaked
A testing subdomain on HTC’s website has confirmed the already...
Tehran Startup  Studio Launched
The University of Tehran and the Noor Credit Institution have...
Russian Railways: Iranian Project Not Subject to US Sanctions
The state monopoly Russian Railways considers its project on...

Trending

Googleplus