Volkswagen (VOWG_p.DE) will pay about 91,000 British drivers 193 million pounds ($242 million) in an out-of-court settlement for a diesel emissions crisis that enveloped Europe’s largest manufacturer in 2015.
Volkswagen should have gone public in 2008 with an engine plan that sparked the diesel emissions scandal, German court rules.
Volkswagen admitted in 2015 to cheating U.S. diesel engine tests and has cost 32 billion euros ($38 billion) in fines and costs so far.
The Braunschweig regional court sets out its views on a test case brought by investors against the automaker.
VW says it fulfilled all disclosure obligations and any compensation claims are unfounded.Read more
Volkswagen has said about 11 million cars worldwide – and 1.2 million in Britain – were fitted with software that cheated diesel emissions tests.
The so-called “dieselgate” scandal sparked the biggest business crisis in the company’s history.
It has cost VW 32 billion euros ($34 billion) in vehicle refits, fines, and legal costs so far.