Exclusive: Volkswagen reaches deal to compensate U.S. dealers – source

Exclusive: Volkswagen reaches deal to compensate U.S. dealers - source
A Volkwagen compnay logo sits atop the VW factory in Wolfsburg, Germany November 20, 2015.

REUTERS/Ina Fassbender

WASHINGTON Volkswagen AG (VOWG_p.DE) is expected to announce on Thursday it has reached a deal in principle to compensate its 650 U.S. dealers in connection with the German automaker’s diesel emissions scandal, a source briefed on the matter said.

The automaker and lawyers for the VW brand dealers are expected to announce a tentative settlement at a court hearing in San Francisco later Thursday morning. The amount of the settlement fund is not expected to be immediately disclosed, the source said. VW’s U.S. dealers have been barred from selling polluting diesel vehicles for nearly a year.

(Reporting by David Shepardson; Editing by Jeffrey Benkoe)

Source: Reuters

News

BRIEF-‍Wattpad raises $51 mln in new funding

January 17, 2018 mmayha 0

Jan 17 (Reuters) – Wattpad: * ‍WATTPAD ANNOUNCES USD $51 MILLION (CAD $61.25 MILLION) IN NEW FUNDING​ * INVESTORS INCLUDE TENCENT HOLDINGS LIMITED, BDC, GLOBE TELECOM‘S KICKSTART VENTURES, PETERSON GROUP, AND EXISTING INVESTOR RAINE​ Source […]

Be the first to comment

Leave a Reply