Daimler $19M Emissions Deal Gets Initial Approval

Law360 (September 22, 2020, 7:54 PM EDT) -- A California federal judge on Tuesday granted preliminary approval of a $19 million deal between Daimler AG and its shareholders to settle class action claims that the company used cheat devices to fool emissions tests, inflating its stock and deceiving shareholders.

U.S. District Judge Dale S. Fischer said the "court will likely be able to approve the proposed settlement as fair, reasonable, and adequate" subject to further consideration at a planned Dec. 14 settlement hearing, where she will certify the settlement class as those who bought Daimler shares from Feb. 22, 2012, through April 21, 2016.

The $19 million settlement would be...

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