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Porsche Holding: Diesel process is on hold

2019-10-29T15:25:49.208Z

The Holding of the families Piech and Porsche was supposed to pay € 47 million for the diesel scandal, the Landgericht Stuttgart said last year. But before that happens, the class action lawsuit against Volkswagen has to be tried.




The Stuttgart Higher Regional Court has shelved the only judgments on damages against the VW major shareholder Porsche SE (PSE) to the diesel scandal on hold. The two judgments on investor lawsuits against the holding of the VW owner families Porsche and Piech were to suspend the final decision in the trial of the Higher Regional Courts Braunschweig and Stuttgart to the VW diesel exhaust scandal, told the Higher Regional Court on Tuesday.

About a year ago, the Stuttgart Regional Court had sentenced the PSE to a total of 47 million euros in damages because they had informed in the fall of 2015 too late about the exhaust gas scandal with its billion-dollar burden for VW.

Revision possible until the BGH

The PSE and the plaintiffs had also appealed - the company because it considers all actions to be unfounded and the plaintiffs because they demanded a higher amount of damages. The Higher Regional Court allowed a revision to the Federal Supreme Court, so that disputed legal issues in connection with the investment model procedure can be clarified by the highest court.

The complaints of investors against VW and the PSE amount to a claim volume of nine billion euros against the carmaker and 1.1 billion euros against its major shareholder. Since September 2018, the Higher Regional Court of Braunschweig has been hearing about the model claim of the investment company Deka Investment against Volkswagen for the price losses suffered by Dieselgate.

Source: spiegel

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