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Volkswagen (VW) shares plunged last September after Europe's
largest automaker admitted to cheating U.S. diesel emissions
tests, hitting the state coffers and pension funds of German
states among other investors.
Hesse Finance Minister Thomas Schaefer said in a statement the
drop in VW's share price had cost the state about 3.9 million
euros ($4.4 million).
Baden-Wuerttemberg, where VW's sports-car brand Porsche and
rival Daimler are headquartered, also said it would sue,
estimating it had lost around 400,000 euros.
Bavaria's state pension fund for civil servants said last month
it had lost as much as 700,000 euros after VW shares plunged,
adding it planned to file its suit this month at the regional
court of Braunschweig near VW's Wolfsburg headquarters in the
state of Lower Saxony.
A spokesman for the Braunschweig court said on Friday so far
about 450 suits had been filed.
(Reporting by Harro ten Wolde, Ilona Wissenbach and Sabine
Wollrab; Editing by Maria Sheahan and Mark Potter)
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