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Sovereign Wealth Funds Briefing - Categorized | Ethical/Green Investments

Blackrock to sue VW over emissions scandal

Posted on 16 September 2016

Asset manager Blackrock and a group of institutional shareholders are to sue car maker Volkswagen for €2bn (£1.7bn) over its emissions scandal. Investors, including sovereign wealth funds and pension funds, are expected to file a complaint in a court in Braunschweig, Germany, on Friday.
They are to claim that VW failed to disclose its use of software defeat devices on diesel cars in a timely way. VW has faced a flood of legal actions over the scandal. In September 2015 the US Environmental Protection Agency found that many diesel VW cars had a software “defeat device” that could detect emissions testing and change how the car performed to improve the test results………………………………………..Full Article: Source


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