Diesel emissions litigation
Deminor Recovery Services (DRS) has engaged our attorneys in Frankfurt to represent two groups of investors in litigation against Volkswagen AG in the District Court of Brunswick, Lower Saxony, Germany. The two lawsuits, announced September 20, 2016 involve Volkswagen’s high-profile diesel emissions scandal and the resulting loss in value these investors incurred in their Volkswagen shares.
The investors—one group of more than 200 investment funds and the other group a set of private investors—have collectively suffered losses worth hundreds of millions of euros on purchases of Volkswagen securities. They are seeking compensation for those losses due to what they say was the company’s failure to inform them in a timely and accurate way about the use of defeat devices in various car models and the resulting impact of that failure on the company’s earnings, outlook and financial situation.
DRS is one of the leading European companies focused on services in the field of shareholder engagement, investor protection, recovery of investment losses and corporate governance.