VW Sued in Germany by Pension Fund Over Emissions Scandal Losses
- California teachers fund is lead claimant, law firm says
- Lawyers are seeking other investors to join group action
VW Probes Continue as it Gears for First Post-Crisis AGM
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Volkswagen AG was sued by the California State Teachers’ Retirement System in the latest lawsuit to emerge from the emissions cheating scandal that wiped more than $20 billion from the carmaker’s market value.
The lawsuit was filed in Braunschweig District Court Monday on behalf of the fund and other institutional investors in VW, law firm Quinn Emanuel said. Damages could rise to as high as 700 million euros ($792 million) if other investors agree to join the group action, the firm said.