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VW Plea Deal Gives Investors Limited Win In Fraud Case

Law360, New York (December 7, 2017, 5:40 PM EST) -- A California federal judge hearing cases related to Volkswagen AG’s clean diesel scandal ruled Wednesday that investors cannot cite the automaker's plea deal and admissions to prosecutors as proof that dozens of its statements to investors were false or made with scienter, although he found they did contradict the automaker’s statements printed on its engines.

U.S. District Judge Charles R. Breyer’s decision in five bundled investor suits came down to the very specific language of the facts VW admitted to and included in its statements to...
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