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U.S. judge 'strongly inclined' to approve VW buyback settlement
Source: Reuters
U.S. | Tue Oct 18, 2016 | 2:07pm EDT
U.S. judge 'strongly inclined' to approve VW buyback settlement
A federal judge in San Francisco on Tuesday said he is "strongly inclined" to approve a record-setting $10.033 billion proposed buyback and compensation offer from Volkswagen AG (VOWG_p.DE) for 475,000 owners of polluting 2.0-liter diesel vehicles and said he will issue a final decision by Oct. 25.
Owners, lawyers and others appeared before U.S. District Judge Charles 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 $16.7 billion to address U.S. "Dieselgate" costs.
(Reporting by David Shepardson; Editing by Tom Brown)
U.S. judge 'strongly inclined' to approve VW buyback settlement
A federal judge in San Francisco on Tuesday said he is "strongly inclined" to approve a record-setting $10.033 billion proposed buyback and compensation offer from Volkswagen AG (VOWG_p.DE) for 475,000 owners of polluting 2.0-liter diesel vehicles and said he will issue a final decision by Oct. 25.
Owners, lawyers and others appeared before U.S. District Judge Charles 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 $16.7 billion to address U.S. "Dieselgate" costs.
(Reporting by David Shepardson; Editing by Tom Brown)
http://www.reuters.com/article/us-volkswagen-emissions-judge-idUSKCN12I2C7
