German state of Hesse sues VW for damages caused by dieselgate
Reuters
Published Sep 16, 2016 03:28AM ET
German state of Hesse sues VW for damages caused by dieselgate
FRANKFURT (Reuters) - The German state of Hesse will sue Volkswagen (DE:VOWG_p) for damages caused by its emissions-test cheating scandal, its Finance Minister said on Friday.
Shares in VW plunged in the wake of the revelation by U.S. regulators last September that Europe's largest automaker had cheated on emissions tests, hitting the state coffers and pension funds of German states.
Hesse's Finance Minister Thomas Schaefer said in a statement the drop in Volkswagen's share prices caused the state about 3.9 million euros ($4.4 million) in damages.
($1 = 0.8906 euros)
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Written By: Reuters
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