BlackRock and a group of institutional shareholders , including Norway ’s Oil Fund and the California State Teachers ’ Retirement System , are to sue Volkswagen for $ 1.7bn in relation to the company ’s emissions scandal and subsequent fall in share price . The investors are expected to file a lawsuit , alleging that VW did not explain its use of cheating devices in a timely manner , in a German court on 30 September .
BlackRock and a group of institutional shareholders, including Norway’s Oil Fund and the California State Teachers’ Retirement System, are to sue Volkswagen for £1.7bn in relation to the company’s emissions scandal and subsequent fall in share price. The investors are expected to file a suit, claiming that VW did not declare its use of cheating devices in a timely manner, in a German court on 16 September.