VW to get sued by their largest investor!

By : Administrator
Published 16th May 2016 |
Read latest comment - 16th May 2016

The latest twist and turns of the emissions scandal.

After sorting out a legal agreement in the states to buy back nearly half a million vehicles, and with pressure mounting for legal action all over the place, including it's own dealerships, now its investors are turning on VW!

The beeb is reporting that one of VW's largest investors which is worth £592bn, is planning to join a legal action against the car maker.

"As an investor, it is our responsibility to safeguard the fund's holding in Volkswagen."

Volkswagen has put aside some €16.2bn to pay for the emissions scandal.

Volkswagen to be sued by Norway fund - BBC

Maybe I'm missing something here, but I'm not sure how getting sued by your largest investor is going to help VW and their share price? Some huge numbers getting bandied around, I wonder how big VW's rainy day fund is, or have they just spent the pension pot?


Steve Richardson
Gaffer of My Local Services
My Local Services | Me on LinkedIn
Comments

Another go reason to get out of the EU, if our so called European  partners are lying about emissions  what else are they lying about? 


Thanks,
Barney

Just seen on the news that Nissan are being accused of emission dodging on their Sunderland built Qashqais 


Steve Richardson
Gaffer of My Local Services
My Local Services | Me on LinkedIn

Said all along that VW would not be an isolated case.

Still waiting for the UK to grow a pair and insist that VW treat the UK market the same as the USA and be forced to buy back the affected cars.


Clive

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