This blog gives you the latest topical news plus some informal comments on them from ShareSoc’s directors and other contributors. These are the personal comments of the authors and not necessarily the considered views of ShareSoc. The writers may hold shares in the companies mentioned. You can add your own comments on the blog posts, but note that ShareSoc reserves the right to remove or edit comments where they are inappropriate or defamatory.

Possible Volkswagen Legal Action

The following note has been issued by Better Finance (a European Association of private investor groups of which ShareSoc is a member). It is self explanatory.

Dear Members,

In September, Volkswagen admitted that an estimated 11 million cars worldwide were involved in the falsified emission reports. Reports have emerged that Volkswagen’s top management had been aware of the deception since before the official ad-hoc announcement. Representing VW shareholders, the German investor association DSW, a member organisation of Better Finance, is examining the possibility of legal proceedings on the grounds that VW violated its duty to immediately disclose all information regarding the manipulation of emissions and ensuing fallout.

In collaboration with legal experts, DSW is currently assessing the probability of success in the case of legal proceedings in Germany, since German law holds that only those claimants who are successful will not be charged with fees. Particularly noteworthy is the fact that, since VW is a German company, all shareholders, regardless of their nationality, can in principle join a legal action.

With various originations across Europe currently trying to gather VW shareholders to put together a law suit, DSW would like to stress that there is no reason for shareholders to hurry. At this stage it is important to ascertain that any legal claim against VW would be beneficial for shareholders and to await clarification of important questions such as the amount of compensation that can be claimed as well as relevant time frames and the probability of succeeding.  

Ahead of possible next steps, DSW opened an information and registration service free of charge for all VW shareholders, both in Germany and abroad, who will get all necessary information in German and English regarding potential claims.

Registration to this free service should be made via the following e-mail address: kontakt@dsw-info.de .

Roger Lawson

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