Volkswagen agrees $603 mln settlement with U.S. states
Tue Jun 28 2016
Rachel Long (500 articles)

Volkswagen agrees $603 mln settlement with U.S. states

FRANKFURT Volkswagen has agreed a $ 603 million settlement with dozens of U.S. states to resolve state consumer protection claims over the German carmaker’s diesel emissions scandal, it said on Tuesday.

 

Volkswagen in a statement said it had agreed with the attorneys general of 44 U.S. states, the District of Columbia and Puerto Rico.

“Today’s announcement is within the scope of our provisions and other financial liabilities that we have already disclosed, and we are in a position to manage the consequences,” Volkswagen’s Chief Financial Officer Frank Witter said.

 

(Reporting by Tina Bellon; Editing by Georgina Prodhan)

Rachel Long

Rachel Long

Rachel Long is our Desk Correspondent covering Stock Markets across the globe. She is based in New York

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