Scanda­l has cost the firm €27.4 billio­n in penalt­ies and fines so farBRAUNSCHWEIG: Volkswagen went on trial on Monday to face investors seeking €9.2 billion ($10.6 billion) in compensation, arguing the carmaker should have informed shareholders earlier about its diesel emissions scandal. “Volkswagen should have told the market that they cheated and generated risk worth billions,” Andreas Tilp, a lawyer for the plaintiffs, told the Braunschweig higher regional court. Had investors known about Volkswagen’s criminal activities, they may have sold shares earlier or not made purchases, thereby avoiding losses on their shareholdings, the plaintiffs argued. Volkswagen’s shares lost up to 37% of their value in the days after authorities exposed illegal levels of pollution emitted from Volkswagen diesel cars. “This case is mainly about whether Volkswagen complied with its disclosure obligations to shareholders and the capital markets,” Volkswagen lawyer Markus Pfueller told the court.

Source: The Express Tribune September 10, 2018 11:37 UTC