Volkswagen Reaches $14.7B Deal In Emissions Scandal
Law360, Los Angeles (June 27, 2016, 9:49 PM EDT) -- Volkswagen AG reached a deal valued at $14.7 billion to settle claims with consumers and the federal government over the automaker's emissions-cheating scandal, about 50 percent more than what was reported a week ago, according to media reports Monday.
The proposed settlement would include just more than $10 billion to buy back cars from consumers and cash compensation to the owners — as promised last week — and a $2.7 billion payment into a fund for the U.S. Environmental Protection Agency, according to a report in The New York Times.
The company and class members will file settlement papers in California...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!