Volkswagen AG shareholder claims
The share price of Volkswagen AG’s stock dropped in response to the unfolding realization that 11 million vehicles are affected by “defeat device” software designed to feign compliance with emissions standards installed in the auto maker’s diesel cars. The company faces being fined up to 18 million dollars by the United States’ Environmental Protection Agency (EPA) as well as a host of lawsuits in a multitude of countries.
One day prior to the EPA’s September 18, 2015 announcement of Volkswagen’s non-compliance with the US’s Clean Air Act, Volkswagen AG stock, traded at 167 Euro per share on the German stock exchange or DAX. Since the emissions problem was announced, the share price has fallen to as low as 92 Euro per share.
Shareholders who purchased Volkswagen stock between June 6, 2008 and September 17, 2015 have a potential claim for compensation against the company.
Due to prior United States’ court decisions, it is doubtful that the US courts will provide the appropriate venue for resolution of shareholders’ claims.
We are working closely with German attorneys, as well as attorneys from other jurisdictions, and will assist all shareholders in determining the appropriate venue for pursuing their claims after examining with them all possible options.
Should you wish to have more detailed information about your potential legal rights as a shareholder of Volkswagen AG stock, please fill out the contact form.