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VW Hires Feinberg to Process Loss Claims by Diesel Owners
Volkswagen AG has retained Kenneth Feinberg—the attorney who managed ignition switch compensation payments for General Motors Co.—to handle loss claims by U.S. owners of its diesel-powered vehicles.
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Volkswagen AG has retained Kenneth Feinberg—the attorney who managed ignition switch compensation payments for General Motors Co.—to handle loss claims by U.S. owners of its diesel-powered vehicles.
VW says Feinberg will create and administer a plan to compensate owners of vehicles powered by 2.0-liter 4-cylinder or 3.0-liter V-6 diesels. The Environmental Protection Agency ruled three months ago that both engines were equipped with illegal systems designed to cheat on emission tests.
Roughly 500 civil lawsuits, many seeking class-action status on behalf of 480,000 affected owners, accuse VW of deceiving buyers with claims their cars and SUVs were powered by “clean” diesels. The plaintiffs want compensation for economic loss resulting from the depressed resale value of their vehicles.
Last week the lawsuits were consolidated in U.S. District Court in Sacramento, Calif.
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