Since the scandal broke several law firms have initiated litigation on behalf of (groups of) investors in various German courts whereby aggrieved investors claim damages from Volkswagen Group.
September 10, 2018:
The first major German court case against VW gets underway followed by a series of weekly hearings extending through 2018 and into 2019 that are expected to clear up more than 200 issues common to the thousands of claims totaling 9 billion Euros. At these weekly hearings it is anticipated the Higher Regional Court will provide instructions regarding issues the parties will be briefing, including timelines and priority issues in the court proceedings going forward with Judges expected to rule sometime in 2019.
Battea Global Litigation Research, LLC recently published the "VW Litigation Research Update & Point of View", which will alert you to the most recent developments in these global litigation efforts and what we believe to be the most appropriate next steps to an attractive conclusion for all involved.
Contact Battea to download the Research Note.
International Securities Associations and Foundations Management Company for Damaged VW Investors (ISAF) who represents a large number of hedge-funds and institutions with their recovery efforts, organized and funded one of the major original groups retaining and supporting the German Law Firm TILP, who won the court appointment as the lead counsel in the collective KapMuG action against VW in Braunschweig, have now organized a final group filing to take place in late November, 2018.
Battea recommends that investors who have not yet verified their eligibility and/or filed with the Higher Regional Court in Braunschweig (“KapMuG” Proceeding) to contact ISAF today: firstname.lastname@example.org.
It is critical for investors that purchased shares of Volkswagen AG (“VW”) securities listed on the Deutsche Börse Xetra (“DB Xetra”) exchange in Germany to understand how to access potential damages awards that may result from litigation or settlement with VW, in connection with the Volkswagen diesel engine emissions “cheat devices” scandal. The US class action litigation against VW only covers American Depository Shares (“ADS”) trading on the New York Stock Exchange (“NYSE”). The vast majority of losses for many investors were suffered in the VW shares trading on the DB Xetra exchange in Frankfurt. Therefore, in order to be eligible to participate in any future settlements or damages awards for such losses, investors have to proactively opt-in to organized collective group litigations (coalitions), in Europe, unless of course they decide to initiate litigation on their own.
Battea has studied the available litigation options and continues to stay abreast of developments on behalf of our clients. In addition to our regular process of data handling, loss calculations, class action claims filing and settlement recovery processing from inception through any ultimate settlement recovery, we are available to review, and provide input and assistance to clients to articulate available options.
Battea Global Litigation Research, LLC published the "Volkswagen Independent Securities Litigation Overview", a discussion document which explains two types of claims - Inflation Claims and Rescission Claims – and reviews a number of factors that are relevant when analyzing possible loss recovery options, including jurisdiction, Statutes of Limitation, anonymity, adverse or counter-party risk and other opt-in coalition issues. For parties interested to learn more, please download this report today.