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Ex-VW CEO agrees to pay $12 million in dieselgate damages

D&O liability

Germany-based Volkswagen AG’s former Chief Executive Martin Winterkorn has agreed to pay around €10 million (($12 million) in damages to the carmaker over the diesel emissions scandal, Reuters reported citing Business Insider. In March, Volkswagen said that it will seek damages from ex-CEO Mr. Winterkorn for breaching his duty of care with regards to the dieselgate scandal, which has cost the company more than €32 billion in fines, refits and legal fees.

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