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VW Stock Up US Court Awards Five Owners Of VW Diesel $ 100,000

VW diesel Stock

VM stock Up:


A U.S. court has awarded holders of four VW diesel cars with manipulated emissions values ​​a total of $ 100,000.

The five plaintiffs, three individuals and a couple, are part of a group of around 350 people who have not joined the billion-dollar settlement negotiated with the U.S. authorities four years ago and want to claim higher damages on their own.

Volkswagen was satisfied that the court had rejected much larger claims by the plaintiffs in the millions: "The plaintiffs had only minimal losses and they were rightly denied the unjustified additional profits they sought."

But the amount now set - so-called punitive damages that companies in the United States have to pay if they cheated - also exceeds constitutional limits, VW said.

The carmaker now wants the jury to reduce the amount awarded to the plaintiffs. The court had already awarded the five people damages totalling $ 5,747 earlier this month.

The settlement reached four years ago with the U.S. judiciary provided that Volkswagen bought back almost 600,000 manipulated diesel cars and paid the victims an average of $ 5,000 to $ 6,000.

In September 2015, the Wolfsburg-based company, under pressure from the US environmental authorities, admitted that it had used special software to beautify diesel exhaust gas values.

This detects when a vehicle is on the test bench and only then complies with the limit values. In real operation on the road, the pollutant values ​​are many times higher.

The reparation of "Dieselgate" cost Volkswagen more than 25 billion euros in the United States alone, including penalties.

Including fines in Germany and costs for lawyers, Volkswagen has so far paid over 30 billion euros for the refurbishment.

The preference shares of VW are currently up to via Xetra by 6.68 per cent to EUR 140.52.


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