VW Sued for $3.7 Billion in Germany Over Diesel Scandal
- Law firm filed case on behalf of 278 institutional investors
- Lawsuit argues VW disclosures to investors came too slowly
Pipework sits on the diesel engine of a Volkswagen AG (VW) Passat automobile in London, U.K.,
Photographer: Miles Willis/BloombergThis article is for subscribers only.
Volkswagen AG was sued for 3.3 billion euros ($3.7 billion) over how the company informed markets about devices used to hide pollution in diesel engines, its biggest legal challenge in Germany to date after a wave of lawsuits in the U.S. on the scandal.
The case was filed Monday in Braunschweig on behalf of 278 institutional investors from around the world, lawyer Andreas Tilp said by telephone. The suit claims VW failed to publish information about the emissions scandal in a timely manner, he said.