Our legal opinon
By omitting certain information, Volkswagen Company has violated the trust of its shareholders. The law firm Werdermann | von Rüden helps you to enforce your right as a shareholder against Volkswagen. During the last years, we have assisted over 25000 clients. Because we only deal with certain case groups of the banking and capital markets law, we can advise our clients with the best expertise there is.
Frequentry asked questions
Why does the behavior of Volkswagen leads to damage claims for the shareholders?The Securities Trading Act (Wertpapierhandelsgesetz – WpHG) imposes a statutory requirement to notify the market on insider information so that other market participants such as shareholders are not put at a disadvantage to company insiders. Therefore the Group Executive Committee was obliged to inform the shareholders over the manipulations of a certain number of cars as well as over the investigation by the US authorities on different occasions. The Volkswagen Company undertook no such ad-hoc announcements and is therefore obliged to compensate damages according to § 37b WpHG.
When was the Diesel Deception revealed?
- According to Newspaper Stern Volkswagen equipped their cars with the software that was used to cheat on emissions test since the sales campaign in 2006. At that moment, the Volkswagen Company was obligated to release a notification.
- According to reports from the Handelsblatt and the newsmagazine television program Frontal 21 representatives of the VW Company admitted irregularities concerning the software for the engine management during talks with the with the California Air Resources Board (CARB).
- At least since the moment the VW Company was aware of the Investigations by the CARB, the VW was obliged to inform its shareholders.
Can any shareholder claims damages because of the Diesel Emissions Scandal?Those shareholders who owned Volkswagen shares during the time between 18th September and 25th September 2015 are likely to have a claim for damages. It is also about share purchases during the time between the first registration of a Volkswagen car with manipulated engine management software on 6th June 2008 till the exposure of the scandal of 17th September 2015.
How can I seek compensation?
Option I: In the meantime we conduct settlement negotiations for over 2900 clients.
Option II: In case that our settlement negotiations will not be successful, we can file a case for you at the competent court. For this case, we offer you the possibility of litigation funding.
Option III: If you wish, we will involve you on a KapMUG Verfahren (class-action lawsuit).
Will the legal expenses insurance companies pay the attorney fees and court fees?We check if your legal expenses insurance will pay for any legal procedures. The older your expense insurance policy is, the higher the chance that your expenses insurance company will cover your legal actions. In any case Werdermann | von Rüden will check if your legal expenses insurance company will cover your legal actions.
What does litigation funding / lawsuit financing mean?Legal disputes cannot be avoided at all times. Particularly, if there is a lot of money involved. Private individuals who want to enforce their rights in front of court automatically take a high cost risk. Litigation funding enables a party to litigate or arbitrate without having to pay for it, whether because they are unable to pay for it or because they do not want to. The principle of litigation funding is simple: The litigation funding company takes all the legal costs. Only in case the lawsuit is won, the litigation funding company receives a previously agreed percentage share of the judgment or settlement.
What is a KapMuG Verfahren?The KapMuG (Kaptialanleger-Musterverfahren) is a so-called market model claim, a German legal procedure which – for lack of U.S. style class action lawsuits - uses court rulings won by individual investors as templates to set damages for others that are equally affected. The benefit of this collective suit for individual shareholders is that it aggregates a large number of individualizes claims into one representational lawsuit. This can increase the efficiency of the legal process and lower the costs of litigation (e.g. attorney fees and court fees).
Do the Volkswagen shareholders have to take immediate action?Those eventual claims shareholders want to enforce have a limitation period. But there is no reason for panic. Those claims will not become time-barred in short term. But it is necessary to get clarity when those claims will be time-barred.