Latest news

« »

Thursday, 25 August 2016

VW Franchise Dealers Reach Proposed Settlement with Volkswagen Following Diesel Emissions Scandal | Hagens Berman | National Class Action Litigation Firm based in Seattle, WA

Hagens Berman announced on their website that a settlement has been reached between dealers and VW relating to the emissions crisis. The agreement creates a settlement fund and provides additional benefits to all US VW dealers. The funds are to be paid out within 18 months. The precise formula for the payout is still being refined, and more details will be announced over the coming weeks. Factors which will determine the amount of each dealer's payout include the size of the dealership and the size of the market it serves.

VW has agreed under the settlement to repurchase used diesel cars in dealers' stock which cannot be fixed. The terms of the repurchase will be the same as those that apply to repurchases from consumers and independent dealers - no group will receive special treatment.

The proposed settlement has to be approved by U.S. District Court judge Charles Breyer. It will go before him for preliminary approval in the middle of September, and if approved notice will then be sent to dealers.

The settlement does not resolve claims against Robert Bosch GmbH and its U.S. subsidiary.

'via Blog this'

No comments:

Post a Comment