(21 Sep 2016) A law firm suing Volkswagen (VW) on behalf of institutional investors on Wednesday said up to 800 million euros (892 million US dollars) were being sought in damages.
Speaking in Frankfurt, Alexander Druckenbrodt, the litigation counsel working for law firm Kaye Scholer which filed the suit against VW, said a second lawsuit had been filed by them on behalf of "private clients".
A German court said it has added staff and storage space to handle a flood of 1,400 investor lawsuits against VW.
The regional court in Braunschweig said that on Monday alone, 750 lawsuits arrived from a single law office as a possible one-year deadline to file approached.
The court said in a statement that the VW investor lawsuits equaled about half of its normal workload for an entire year.
Institutional and individual investors claim Volkswagen did not disclose in a timely way that it faced costly action from US regulators over cars with software that enabled them to cheat on diesel emissions tests.


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