VW’s $48M Investor Settlement Gets Preliminary Approval

Nov. 29, 2018, 5:25 PM UTC

Volkswagen AG and some of its investors moved closer to a $48 million settlement after a federal judge granted preliminary approval Nov. 28.

Investors in the automaker’s American Depository Receipts said it misled them about its finances, regulatory compliance, and environmental commitment. The settlement is a small part of larger litigation over VW’s 2015 diesel emissions scandal, the order said.

Judge Charles R. Breyer also certified the class for settlement purposes. He appointed Arkansas State Highway Employees Retirement System and Miami Police Relief and Pension Fund as lead plaintiffs. The judge selected Bernstein Litowitz Berger & Grossmann LLP to serve ...

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