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A group of minority investors, who have reportedly seen their share values plummet as much as 40% when “dieselgate” hit the press, were initially refused a request for independent experts to investigate Volkswagen by the major shareholders. The minority shareholders reportedly took the disagreement to the German courts, and the Northern German appeal court has since allowed this group of Volkswagen investors to appoint an independent investigator to scrutinise what happened and who knew what about the emissions cheating scandal.
This potentially landmark investigation could uncover more about the senior staff and directors at the company who knew about the so-called “defeat devices” all along!
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Former Volkswagen Group executive Oliver Schmidt reportedly wrote to a judge saying he feels “misused” by the German car-maker over the emissions cheating scandal. Schmidt pleaded guilty for his part in the atrocity and was handed a seven-year prison sentence, but he seems to be trying to land the blame on former bosses.
In his letter, Schmidt reportedly wrote:
“I must say that I feel misused by my own company in the diesel scandal, or ‘Dieselgate’.”
The former VW executive went on to accuse Volkswagen of ‘coaching’ him to lie about the diesel emissions some years ago to keep the cheating under wraps. He admits that he regrets not telling the truth to regulators.
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On 20th September 2015, Volkswagen engineers and top managers reportedly discussed the extent of the emissions cheating before publicly admitting they’d installed the so-called “defeat device” software into their U.S. vehicles. The announcement saw the company’s share prices plummet and billions of pounds wiped off its market value.
The impact was then further exacerbated when Volkswagen made another announcement two days later confirming the full extent of Volkswagen group vehicles across the world that were affected. Apparently, this delay in reporting the full extent of the scandal may land VW in further trouble…
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The High Court has set the next hearing for the end of March 2018 and crucial decisions will likely be made as to the direction of the VW Emission Litigation for victims in England and Wales.
Our legal team represent thousands of victims of the scandal here in the U.K., and we were the first to issue claims in the High Court in January 2016. Since we launched our action, a number of other firms eventually followed suit, but we remain confident we will be appointed as a Lead Solicitor in the action.
If you have yet to join our VW group action, we’re urging people to make their decision about claiming ASAP given the next important hearing is set in the next few months. You don’t want to miss any court-imposed deadlines.
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Greenpeace activists reportedly took action in protesting the shipping of thousands of new Volkswagen diesel vehicles into the U.K. from Germany.
On 21st September 2017, activists were said to have boarded a 23,500 tonne ship in the Thames Estuary that contained the new cars by climbing the unloading door and hanging a huge poster of one of the protesters’ children wearing a gas mask with the words “ditch diesel” written over it.
They demanded the vehicles be returned to Germany where they were made.
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There have been reports of car dealers seemingly taking advantage of Volkswagen owners by using a loophole to profit off the back of the Volkswagen scandal buyback scheme in the U.S., and there are fears similar activities could happen here in the U.K.
Dealers can apparently make a five figure profit by purchasing an affected car and then claiming compensation from Volkswagen.
Although VW is currently refusing any form of compensation here in the U.K., we are working with U.S. lawyers and keeping a close eye on things over there; especially when there are warnings to take heed of which may reflect over here when our fight for justice hopefully catches up to theirs.
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Following on from Volkswagen’s huge car emissions cheating scandal, the Swiss Federal Criminal Court ordered that the Swiss Attorney General launch an official criminal probe into AMAG; Switzerland’s largest car importer and dealer.
AMAG was founded in 1945 and sells vehicles by Volkswagen, Audi, Skoda and SEAT. The huge dealership generated over 4.4 billion Swiss Francs in 2015, and employed around 5,400 people nationwide at the time. The Federal Criminal Court said they ‘took the view that it could not be completely excluded that persons at AMAG were aware that emission values had been manipulated‘, and therefore seized evidence relating to the Volkswagen scandal from the dealership.
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Volkswagen Group are reportedly set to take another £2.19 billion from third quarter budgets to cover the costs of its “buy-back” and “fix” schemes for cars fitted with so-called “defeat devices” in the U.S… Adding to the already monumental cost of the scandal that amounts to over £15 billion so far. The company said they’re increasing their budget to cover these costs as it was “proving to be far more technically complex and time consuming.”
“Yes, we’d already assumed this may be the case…”
News of the additional costs has reportedly had an impact on shares, reportedly dropping by 3% as investors may be losing further faith in the company. Some sources expect the scandal to cost Volkswagen up to £22.5 billion in total, yet U.K. victims are still neglected by the German automotive giants.
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When VW chairman Hans Dieter Poetsch defended the decision not to publish the elusive Jones Day report, we weren’t happy; and we weren’t surprised
Poetsch stated that he defends the decision not to publish to Jones Day report and suggested that the law firm’s findings were included in the guilty plea agreed with U.S. authorities. If that’s the case, why withhold the report? If VW’s stance is that the information included in the plea and / or the summary released is enough to grasp the concept of the report, why not release the full report? What possible reason could there be to not publish it, unless they were hiding something?
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The pressure on Volkswagen bosses intensified earlier this year when asset management company Hermes called for a vote of no confidence against Volkswagen management.
More importantly, further focus is being drawn on the findings of the elusive Jones Day report; a report that may contain key evidence about the Volkswagen Emissions Scandal that has yet to be published. The report was the result of a meticulous investigation into the scandal, but all that has been given to the public and governments is a summary, which we say is not good enough.
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In April 2017, MPs discussed the third report produced by the Transport Select Committee and the government’s response.
Following on from the lack of action from Volkswagen (VW) in the U.K., MPs Louise Ellman and David T. C. Davies raised questions to minister John Hayes as to why compensation had not been offered to VW’s customers in the U.K., as well as other questions regarding air pollution and the Government’s plan to tackle the issues.
Here’s a reminder of what went on…
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Two years after Volkswagen admitted there are “emissions irregularities” with their vehicles, prosecutors are still investigating the company to find out which employees were involved in facilitating the scandal, who knew what, and who played a part in hiding the deceit from authorities.
Zaccheo Giovanni Pamio is reportedly being held in a German jail for his alleged participation in the scandal while working as the head engineer of thermodynamics for Audi’s engine development department. He has since reportedly provided German investigators with statements and evidence of his involvement and knowledge of the scandal.
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If you are looking for representation for emissions problems related to Nissan Renault, Porsche and many others you can go to the following advice pages to find out more:
UK NISSAN RENAULT CONSUMERS MAY BE ELGIBLE FOR NO WIN, NO FEE COMPENSATION. CLICK NOW TO FIND OUT MORE.
PORSCHE INITIATED A RECALL IN EARLY 2019. FIND OUT NOW IF YOU ARE ELIGIBLE TO JOIN OUR DIESEL EMISSIONS ACTION.
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