VW Rips Bondholder's Cert. Bid In Emissions Fraud Row
Law360 (February 18, 2020, 8:54 PM EST) -- Volkswagen asked a California federal judge to reject a bondholder's bid to certify a class action alleging the German automaker offloaded overpriced bonds on unsuspecting investors who weren't told of the emissions-cheating scandal, saying there's no glossing over the myriad factors that affected buyers' purchasing decisions.
Volkswagen fired back Friday at lead plaintiff Puerto Rico Government Employees and Judiciary Retirement Systems Administration's attempt to represent a class of buyers of Volkswagen notes that were sold in three offerings under Rule 144A of the Securities Act in May 2014, November 2014, and May 2015, and traded in the secondary market during a...
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