US judge ‘strongly inclined’ to approve VW buyback settlement

US judge 'strongly inclined' to approve VW buyback settlement

REUTERS: A federal judge in San Francisco on Tuesday said he is “strongly inclined” to approve a record-setting US$10.033 billion proposed buyback and compensation offer from Volkswagen AG for 475,000 owners of polluting 2.0-liter diesel vehicles.U.S. District Judge Charles Breyer said he will issue a final decision in the matter, stemming from Volkswagen’s use of illegal software to defeat U.S. emissions testing, by Oct. 25.Owners, lawyers and others appeared before Breyer during a hearing raising arguments about why they think Volkswagen is failing to offer enough money for buybacks or refunding for other out-of-pocket costs like extended warranties, maintenance and government licensing fees. VW has agreed to spend up to US$16.7 billion to address its so-called U.S.…

Be the first to comment on "US judge ‘strongly inclined’ to approve VW buyback settlement"

Leave a comment

Your email address will not be published.