A tentative settlement to the entire Volkswagen diesel scandal may be forthcoming. The scandal, which broke last fall, has kept the auto manufacturer in the news. The scandal involves “cheat software” that allowed the affected vehicles to cheat emissions testing.
In late April, Volkswagen and government regulators announced that a framework of a deal to resolve the scandal had been reached. The deal would include for the company to buy back nearly half a million of its 2.0-liter diesel cars. In the deal, owners and those leasing the vehicles would also get additional cash compensation.
The deal was presented in a hearing that took place before U.S. District Judge Charles Breyer, who is overseeing the consolidated lawsuits against the company for the diesel cheating scandal.
Though no details have been released on how the buyback value would be set, owners would also have the option to have the car modified to meet emissions standards when a fix is approved. In addition, lessees may cancel the lease and simply return the car. Those affected by the scandal will also receive substantial compensation regardless of the option they choose.
Breyer set a couple of deadlines for the company to meet regarding the proposed settlement. There is a May 19th status conference on how the final deal is progressing. A further deadline of June 21 is set to file a proposed final settlement for public disclosure. A July 26 deadline is set for preliminary approval of the final deal.
The judge did admonish the parties involved to keep negotiations confidential.
Volkswagen’s 3.0-liter V-6 diesels in VW, Audi, and Porche vehicles that have the same “cheating” software were not addressed as part of the current deal.
If you have been affected by the Volkswagen emissions scandal by owning or leasing one of the affected vehicles, you may be entitled to compensation. Contact the law offices of John Foy & Associates. The “Strong Arm” attorneys will help you get the compensation you deserve. Contact us today.