The International Securities Associations and Foundations Management Company for Damaged VW Investors announced today that it has organized the filing of a lawsuit for approximately €800 million (~$894.28 million) against Volkswagen AG in the Regional Court in Braunschweig, Germany because of losses incurred from the diesel emissions cheating fraud.
The latest ISAF VW lawsuit against dirty Volkswagen diesel engines and its vast emission cheating scheme is from a group of international institutional investors from the US, Europe and Canada.
The lawsuit concerns losses investors suffered from the drastic drop in VW share value in shares traded on the German Deutsche Börse Xetra exchange, as a result of the VW diesel emission fraud.
Securities class or collective actions filed in other jurisdictions outside Germany are highly unlikely to cover investor losses that stem from the largest classes of preferred and common shares, which traded on the Xetra exchange in Germany. Proceedings under the German KapMuG collective redress system are expected to get fully underway during Q4 of 2016. This one might prove troublesome.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
