United states: The complainants against Volkswagen rejected


WASHINGTON (Reuters) – A judge in San Francisco ruled Friday evening of the institutional investors that had purchased bonds of the u.s. subsidiary of Volkswagen (DE:VOWG_p) and that accused the car manufacturer of the allegedly false statements before the “dieselgate” bursts at the great day.

Investors had purchased for $ 8.3 billion (€6.7 billion) of bonds by Volkswagen Group of America Finance in 2014 and 2015 and some of them had sued the company after she had admitted, in September 2015, to have installed software that allows you to bypass the testing of pollutant emissions.

They demanded hundreds of millions of dollars in damages and interest to the result of the decline in the value of bonds.

The judge Charles Breyer dismissed the plaintiffs who had filed an action in the name of collective against VW, its u.s. subsidiary and the ex-president of the management board Martin Winterkorn.

Breyer had decided in July that the proceedings could continue, but it came back on its decision after the counsel of VW had put in prior to a new judgement made by a federal court of appeals in a case involving the british bank Barclays (LON:BARC).

VW is still the subject of several trials.

Investors of the world demand of nine billion euros in damages and interest to Volkswagen for, they say, not having notified the shareholders early enough in the topic of the use of illegal software.

The German court of Brunswick, located not far from the headquarters of the first european car manufacturer, are approximately 1.600 trial and damages by reason of the fall of the action following the recognition of the facts by VW.

(David Shepardson; Wilfrid Exbrayat for the French service)

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