Volkswagen Pays a Record Settlement but Legal Troubles Remain

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Volkswagen Pays a Record Settlement but Legal Troubles Remain
A security guard stands on the roof of the Volkswagen old power plant and monitors the area during the company's annual press conference in Wolfsburg, Germany, Thursday, April 28, 2016. AP Photo/Markus Schreiber
Emel Akan
Updated:

Volkswagen AG will pay nearly $15 billion to settle consumer lawsuits and government allegations stemming from its diesel emissions fraud in the United States. Although it is a huge loss for a company with a market value of $65 billion, it is not the end of the company’s legal troubles.

“Today’s settlement is an important step forward but it is by no means the end. Our investigation continues,” said New York State Attorney General Eric Schneiderman, in a press conference.

New York State Attorney General Eric Schneiderman announces partial multistate and federal settlements of up to $15 billion with Volkswagen at a press conference in New York on June 28 2016. (Screenshot via AG.NY.gov)
New York State Attorney General Eric Schneiderman announces partial multistate and federal settlements of up to $15 billion with Volkswagen at a press conference in New York on June 28 2016. Screenshot via AG.NY.gov
Emel Akan
Emel Akan
Reporter
Emel Akan is a senior White House correspondent for The Epoch Times, where she covers the policies of the Trump administration. Previously, she reported on the Biden administration and the first term of President Trump. Before her journalism career, she worked in investment banking at JPMorgan. She holds an MBA from Georgetown University.
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