VW Escapes Investors' German Car Conspiracy Suit In NY
Law360 (May 21, 2021, 6:08 PM EDT) -- A New York federal judge dismantled a suit alleging Volkswagen conspired with Daimler and BMW to suppress competition by coordinating costs, supplies and vehicle technology, saying investors' vague claims concerning allegedly overpriced securities didn't amount to any U.S. law violations.
U.S. District Judge Dora L. Irizarry of the Eastern District of New York on Thursday shut down for good a proposed class action from investors Wayne and Linda Mucha alleging Volkswagen AG covered up a decades-long scheme with fellow German auto giants Daimler AG and BMW AG that falsely touted its compliance measures and innovation. The result, according to the Muchas,...
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