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U.S. judge dismisses VW bondholder lawsuit over excess emissions [Reuters]

BARCLAYS (BCS)  More Company Research Source: Reuters
PDF U.S. judge dismisses VW bondholder lawsuit over excess emissions | Reuters 3 Min Read WASHINGTON, March 3 (Reuters) - A U.S. judge late Friday dismissed a lawsuit filed by institutional investors who purchased bonds from Volkswagen AG’s U.S. unit and claimed the automaker had made false and misleading statements before its massive diesel emissions scandal became public. Investors bought $8.3 billion in dollar-denominated bonds Volkswagen Group of America Finance LLC sold in 2014 and 2015. A group of those investors sued the company after it admitted in September 2015 to secretly installing software to evade emissions rules for at least six years that led to the ouster of its chief executive, damaged the company’s reputation and prompted massive bills. U.S. District Judge Charles Breyer in San Francisco dismissed the class-action suit against VW, its U.S. unit and former chief executive Martin Winterkorn. Breyer had ruled in July the case could go forward but reconsidered his decision [Read more]

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