Bavaria to sue Volkswagen over emissions scandal


Volkswagen

VW’s second-biggest shareholder, the Bavarian federal state of Germany, joins list of US states suing the German car maker

The German federal state of Bavaria will sue Volkswagen for damages as the fallout from the dieselgate scandal continues.

Bavaria is the first federal state in Volkswagen’s home country to take action against the company, as it seeks to recoup funds lost from the Bavarian pension fund. Bavaria owned around 58,000 preference shares in VW, making it the company’s second-biggest shareholder, when the emissions scandal broke last year. Bavaria therefore lost out by up to 700,000 Euros (£587,000) when the share …read more

Source:: Autocar