VW Bondholders Proceed On In Emissions Scandal
July 19, 2017
U.S. District Judge Charles R. Breyer has ruled that bondholders represented by AF&T can continue to pursue a putative class action against Volkswagen alleging inflated bond values caused by the 2015 diesel emissions scandal. Judge Breyer found that the allegations pled by the Lead Plaintiff, Puerto Rico Government Employees and Judiciary Retirement Systems Administration “give rise to a strong inference” that Defendants knew that the company was using an illegal defeat device to pass emissions tests at the time of the May 2014 offering.
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