|
Shares in VW, Europe's largest automaker, plunged in the wake of
the revelation of the cheating by U.S. regulators last
September, hitting the state coffers and pension funds of German
states.
Baden-Wuerttemberg, where Daimler and VW's sports-car brand
Porsche are headquartered, has been pondering legal action
against VW, a spokeswoman for the state finance ministry said on
Wednesday, adding it held about 65,000 VW preference shares when
the scandal broke.
Hesse also said it was considering legal steps against
Volkswagen, while Schleswig-Holstein, North Rhine Westphalia,
Rhineland Palatinate and the city state of Berlin said they were
not considering legal steps.
Germany's Finance Ministry also said it was not considering
legal action on a federal level.
VW is caught up in legal action in the United States, South
Korea and elsewhere, and faces billions of dollars in costs
related to its emissions-test manipulations - the biggest
scandal in its history.
Bavaria's state pension fund for civil servants lost as much as
700,000 euros ($780,00) after VW shares plunged, the state said
yesterday, adding it planned to file its suit in September at
the regional court of Braunschweig near VW's Wolfsburg
headquarters in the state of Lower Saxony.
(Reporting by Gernot Heller; Writing by Andreas Cremer; Editing
by Alexandra Hudson)
[© 2016 Thomson Reuters. All rights
reserved.] Copyright 2016 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
|
