Volkswagen is preparing for the largest legal claim of its kind in German history. That would be a new chapter in the affair with cheating diesel engines, which has already cost the company more than $ 30 billion, according to business newspaper Financial Times.
More than 400,000 German car owners have registered in a collective case, which experts say could last four years. The definitive number will become clear Monday after the first oral hearing in the case.
The possibility of a collective case was introduced in Germany in the aftermath of “Dieselgate” to reduce the pressure on the legal system. In the aftermath of the revelations of misconduct at Volkswagen in 2015, tens of thousands of consumers flooded the more than one hundred regional courts in the country with individual claims.
Oliver I. Kjeldsen has a corporate finance and extensive expertise in company audit. He grants us amazing insights on taxation, international affairs and friendly advice on nearly any topic of interest. His email is oliver.kjeldsen@economicinform.com
