Volkswagen’s third-quarter figures have been released – and they’re not pretty. Berlin is being criticized for its handling of the scandal as well, in which millions of cars were fitted with devices to cheat emissions tests.
Troubled carmaker Volkswagen has yet another problem in the wake of its emissions scandal. Bavaria is planning to sue for damages of up to 700,000 euros after suffering losses from a substantial fall in share prices.
The legal deluge came on the one-year anniversary of revelations that VW rigged 11 million cars to pass emission tests. The firm set aside $20B to pay damages, but could end up needing almost twice that amount.
Snap shares have lost almost a quarter of their value after the parent company of popular Snapchat app reported slowing user growth and revenue just weeks after going public in a much-hyped IPO in March.
A judge has ruled that Volkswagen must face American investor claims over Dieselgate in the US. Ex-VW head Martin Winterkorn had hoped to have US lawsuits tried in Germany, a request thrown out by the California court.
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