A class action against Volkswagen Aktiengesellschaft (hereafter “VW”) was instituted further to the release of documents containing misrepresentations and omissions of material fact with respect to VW secretly installing software to manipulate the quantity of pollutants being discharged from certain of its diesel engines while the vehicles with said diesel engines were being tested for compliance with the applicable emissions standards. In its disclosures and in an effort to attract investors, VW stated that it was more environmentally friendly as it was the first automaker to commit to cutting NO2 emissions.
It was later revealed that VW defrauded investors and the public by deliberately cheating U.S. emission tests and making its diesel vehicles appear cleaner than they actually were.
The Class Period concerned in this class action is from March 12, 2009 to and including September 18, 2015.
The class members are the following:
All residents of Quebec who purchased VW’s securities from March 12, 2009 to September 18, 2015 and held all or some of those acquired VW securities until after September 18, 2015 other than VW’s subsidiaries, affiliates, officers, directors, executive level employees, legal representatives, heirs, predecessors, successors and assigns.
On May 28, 2018, Québec’s Superior Court granted authorization (or leave) to pursue the class action. A copy of the judgment can be viewed here. If you would like to receive updates, you may sign up for mailings or contact us at email@example.com.