Volkswagen's woes continue, as institutional investors file a $3.6bn lawsuit over Volkswagen's emissions scandal. Nearly 300 large investors, including the US pension fund Calpers and German insurance firms, are suing VW for breaching its obligations to capital markets. The case is being heard by Judge Charles Breyer in San Francisco, who has been critical of Volkswagen since it admitted last year that 11 million diesel cars were fitted with software designed to cheat on pollution The lawsuit will focus on whether the company neglected its duty to the capital markets between June 2008 and 18 September 2015. The logo of German carmaker Volkswagen is seen on a Volkswagen Golf GTI car at a showroom of Swiss car importer AMAG in Duebendorf, Switzerland February 12, 2016. VW says it cannot comment as it has not been sent the lawsuit. This comes as a former VW employee, Daniel Donovan, accuses the firm of deleting documents of evidence, thereby obstructing justice.
Volkswagen's woes continue, as institutional investors file a $3.6bn lawsuit over Volkswagen's emissions scandal. Nearly 300 large investors, including the US pension fund Calpers and German insurance firms, are suing VW for breaching its obligations to capital markets. The case is being heard by Judge Charles Breyer in San Francisco, who has been critical of Volkswagen since it admitted last year that 11 million diesel cars were fitted with software designed to cheat on pollution The lawsuit will focus on whether the company neglected its duty to the capital markets between June 2008 and 18 September 2015. VW says it cannot comment as it has not been sent the lawsuit. This comes as a former VW employee, Daniel Donovan, accuses the firm of deleting documents of evidence, thereby obstructing justice.