Produced by: bloomberg.com
October 26, 2016
Volkswagen AG and drivers suing the company in the U.S. over its diesel-cheating scandal won final approval of their $14.7 billion settlement to resolve what’s likely to be the largest portion of VW’s civil liability worldwide.
“VW got itself in a lot of trouble on both sides of the Atlantic, basically lying to a host of governmental regulators, its ultimate customers and its many dealers in between,” said Anthony Sabino, a law professor at St. John’s University in New York and an expert on complex litigation. “They’re not getting off cheap, but they’re stopping the bleeding.”