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12.09.2018 09:54 Alter: 93 days
Kategorie: News

New Volkswagen Trial in Germany Stands to Repay Investors


In 2016, BETTER FINANCE joined the The Stichting Volkswagen Investors' Claim in order to help investors obtain redress for “Dieselgate” scandal (information can be found here) Now, time has come for high-ranking Volkswagen executives to testify in court in a case concerning the stock market fray between Volkswagen’s biggest shareholders. A German court will begin hearing evidence this coming Monday.

Volkswagen’s well-known emissions scandal from 2015 caused major losses for a number of investors. A subsidiary of the Elliott Management, one of the hedge funds who bet against Volkswagen shares, is bankrolling a group of institutional investors who are suing because of those loses.

Beyond a sense of justice, Elliott Management stands to gain up to 30 percent of any winnings, according to its subsidiary Bentham Europe. Volkswagen has already paid approximately €28 billion in settlements and fines over the diesel scandal; if they lose this latest case they will have to pay even more. The shareholders backed by Elliott Management are seeking €2 billion in damages, or about a fifth of the total claims.

Read more here!


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