Last month, Financial Recovery Technologies distributed our full-alert for the upcoming Volkswagen Bonds case to our global opt-in monitoring clients. Five years after the Volkswagen (VW) emissions scandal and four years after the filing of the initial equity cases in Germany, VW bondholders are finally getting their day in court.
Case organizers are planning recovery efforts in Germany on behalf of current and past holders of 532 bonds issued by Volkswagen (VW) or its subsidiaries. Like earlier suits for shareholders, the claims being pursued arise out of VW’s emissions defeat devices and ‘Dieselgate’ scandal. However, this group recovery effort is the first one aimed specifically at recoveries for bond owners.
The Organizers claim VW bonds have lost more than US $4.5 billion in value. The planned case will allege that the company bonds were riskier as a result of the defeat devices and related scandal, and that the interest payments on them should have been higher as a result.
Important dates and deadlines
- Relevant Period: January 1, 2011 – September 22, 2011
- Participation Deadline: December 11, 2020 (Note that there may be a second wave of filing in 2021, however, claims may begin to expire)
- Statute of Limitations Deadline: December 31, 2020
To learn more about how FRT can help your firm identify and monitor global opt-in securities litigation opportunities, visit our website.
- [Webinar] Understanding Shareholder Loss Estimates in Non-U.S. Jurisdictions
- [Report] Jurisdiction Profile: Germany
- [Blog] 5 Ways Loss Estimation Comes Into Play in Non-U.S. Securities Litigation
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