LAWSUITS NEWS & LEGAL INFORMATION
VW $14.2B Emissions Class Action Settlement Finalized
This is a settlement for the VW Recall lawsuit.
Santa Clara, CA: A $14.75 billion settlement between consumers, the federal government and Volkwagen has been granted final approval. The deal includes an aggressive timeline for VW to begin buying back cars that have the infamous emissions cheating software.
Under the terms of the deal, VW will set aside $10 million to buy back its vehicles with the defeat devices from consumers.
Additionally, VW must spend $2.7 billion to mitigate the effects of the emissions from cars equipped the so-called defeat devices, and $2 billion over the next 10 years in projects that support the increased use of zero emission vehicles.
Starting in mid-November, Some 475,000 owners of affected VW and Audi 2.0L diesel vehicles will be able to seek buybacks of their cars or have them fixed. Additionally, most plaintiffs who bought their cars before last September, will receive payments of $5,100 to $10,000. About 336,000 car owners have registered for benefits under the settlement and only 3,300 have opted out, according to court papers signed by the judge.
The finalization of the settlement comes just over a year after the U.S. Environmental Protection Agency and the California Air Resources Board exposed Volkswagen's scheme in September 2015. Volkswagen subsequently admitted fault and revealed that the software came preloaded in millions of its diesel vehicles available globally, including almost 600 sold in the U.S. The defeat devices enabled the vehicles to emit greater amounts of toxins into the air once they had left the testing labs and were on the streets. The government sued VW and its subsidiaries with a Clean Air Act suit over the emissions cheating in January.
Of note, 3.0 liter six-cylinder diesel vehicles equipped with the defeat devices are not included in this settlement. VW said it is still working toward a resolution with owners of those vehicles.
The multidistrict litigation is In re: Volkswagen "Clean Diesel" Marketing, Sales Practices and Products Liability Litigation, case number 3:15-md-02672, in the U.S. District Court for the Northern District of California.
Published on Oct-26-16
Under the terms of the deal, VW will set aside $10 million to buy back its vehicles with the defeat devices from consumers.
Additionally, VW must spend $2.7 billion to mitigate the effects of the emissions from cars equipped the so-called defeat devices, and $2 billion over the next 10 years in projects that support the increased use of zero emission vehicles.
Starting in mid-November, Some 475,000 owners of affected VW and Audi 2.0L diesel vehicles will be able to seek buybacks of their cars or have them fixed. Additionally, most plaintiffs who bought their cars before last September, will receive payments of $5,100 to $10,000. About 336,000 car owners have registered for benefits under the settlement and only 3,300 have opted out, according to court papers signed by the judge.
The finalization of the settlement comes just over a year after the U.S. Environmental Protection Agency and the California Air Resources Board exposed Volkswagen's scheme in September 2015. Volkswagen subsequently admitted fault and revealed that the software came preloaded in millions of its diesel vehicles available globally, including almost 600 sold in the U.S. The defeat devices enabled the vehicles to emit greater amounts of toxins into the air once they had left the testing labs and were on the streets. The government sued VW and its subsidiaries with a Clean Air Act suit over the emissions cheating in January.
Of note, 3.0 liter six-cylinder diesel vehicles equipped with the defeat devices are not included in this settlement. VW said it is still working toward a resolution with owners of those vehicles.
The multidistrict litigation is In re: Volkswagen "Clean Diesel" Marketing, Sales Practices and Products Liability Litigation, case number 3:15-md-02672, in the U.S. District Court for the Northern District of California.
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