VW sued by big investors, including CalPERS pension fund

FRANKFURT, Germany (AP) — Institutional investors are suing automaker Volkswagen in a German court, seeking 3.25 billion euros ($3.57 billion) in damages over the company's diesel emissions scandal. Attorney Andreas Tilp said Tuesday in a statement that the suit was joined by investors from 14...

Mnet 67166 Volkswagen Whistleblower Lawsuit Ap Tn
 
              FILE - This Sept. 22, 2015, file photo, shows the Volkswagen logo on a car during the Car Show in Frankfurt, Germany. Volkswagen deleted documents and obstructed justice after the U.S. Environmental Protection accused the company of cheating on emissions tests, a former employee alleges in a lawsuit. Daniel Donovan says in a whistleblower case that he was wrongfully fired Dec. 6, 2015, after refusing to participate in the deletions and reporting them to a supervisor. The lawsuit says that the evidence deletion continued for three days after the Sept. 18 allegations from the EPA and despite a hold order from the Justice Department. (AP Photo/Michael Probst, File)

FRANKFURT, Germany (AP) — Institutional investors are suing automaker Volkswagen in a German court, seeking 3.25 billion euros ($3.57 billion) in damages over the company's diesel emissions scandal.

Attorney Andreas Tilp said Tuesday in a statement that the suit was joined by investors from 14 countries, including the U.S., Australia, Germany, Canada, the Netherlands, and the U.K. Among the plaintiffs is CalPERS, the giant pension fund for government employees in California.

Tilp has already filed a suit on behalf of individual investors, claiming Volkswagen didn't inform investors in a timely way about the troubles with diesel cars.

Volkswagen is being sued by U.S. authorities over 600,000 cars equipped with software that defeated diesel emissions tests. The company has apologized and said it will fix the cars. Some 11 million cars worldwide are affected.

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