February 6, 2018 News

Investors seek certification of their fraud claim against Volkswagen AG

February 6, 2018. Quebec-based investors, represented by Morganti & Co. and Faguy & Co., made submissions to the court to exercise jurisdiction and certify the investor fraud claims against Volkswagen AG. The investors are seeking to represent other similarly situated investors that purchased Volkswagen AG’s securities on European and U.S. stock exchanges on the basis that Volkswagen AG intentionally mislead the public and its investors about the diesel scandal resulting in the share price and value being artificially high. On September 18, 2015, the truth about the diesel scandal became known and Volkswagen AG’s share price significantly dropped. The investors are seeking to recover the amount of the price drop. On July 10, 2018, Ontario-based investors will be making similar submissions to the Ontario court.