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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal

Volkswagen faces EUR40bn lawsuit from investors

Posted on 19 October 2015

Volkswagen is set to be pushed deeper into crisis after it emerged that the carmaker is facing a record-breaking €40bn (£30bn) legal attack spearheaded by one of the world’s top law firms.Now Quinn Emanuel and Bentham are contacting VW’s biggest investors – which include sovereign wealth funds of Qatar and Norway – to ask them to join the claim.
VW has admitted that it fitted “defeat devices” to 11m cars that allowed them to fraudulently pass pollution controls, though the company’s senior management has insisted it was unaware of the practices………………………………………..Full Article: Source


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