11 Jul 2018
AP — A U.S. appeals court on Monday approved a $10 billion settlement between Volkswagen and car owners caught up in the company’s emissions cheating scandal.
The deal delivered “tangible, substantial benefits” and the federal judge who approved it did more than enough to ensure it was fair, a three-judge panel of the 9th U.S. Circuit Court of Appeals ruled unanimously.
The German automaker agreed to spend up to $10 billion compensating owners of roughly 475,000 Volkswagens and Audi vehicles with 2-liter diesel engines — the bulk of the vehicles caught up in the scandal.
Volkswagen acknowledged that the cars were programmed to cheat on emissions tests.
Under the terms of the deal, the automaker agreed to either buy back the cars or fix them and to pay each owner thousands of dollars in additional compensation.
U.S. District Judge Charles Breyer in San Francisco approved that deal in 2016 as part of a $15 billion settlement that also included $2.7 billion for unspecified environmental mitigation and an additional $2 billion to promote zero-emissions vehicles.
You can claim CPD minutes for reading this article, by signing up to our CPD WalletFREE CPD Wallet