Over 300 institutional investors have unified cause to file Volkswagen a multi-billion lawsuit for failing to comply to its stock market duty in an emissions cheating scandal in Germany.
Germany 's pioneer car maker, Volkswagen, is now facing a 3.3 billion euro lawsuit. The case was filed due to the company's cover-up regarding its diesel polluting engine.
U.S. justice authorities have issued a new subpoena to Volkswagen over its emissions cheating under laws governing bank fraud, a person close to the matter.
Volkswagen said that it did not violate financial market disclosure rules. It also claimed that the German carmaker was too slow to inform investors about the rigging of diesel emissions test.
