Volkswagen may face $46.32 billion shareholder lawsuit
Posted On: Oct. 19, 2015 12:00 AM CSTGerman automaker Volkswagen A.G. may face a £30 billion ($46.32 billion) lawsuit by shareholders following the emissions scandal, reports DigitalLook.
U.K.-based litigation finance group Bentham Europe Ltd. has hired law firm Quinn Emanuel Urquhart Oliver & Hedges L.L.P. to prepare a class action for Volkswagen investors in Germany.
"We estimate shareholders' losses could be €40 billion ($45.4 billion) as a result of Volkswagen's failure to provide relevant disclosure to the market and gives rise to questions about fundamental dishonesty," a Quinn Emanuel official said.