Volkswagen facing £30bn lawsuit over diesel emissions scandal

Volkswagen facing £30bn lawsuit over diesel emissions scandal

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Lining up: Top law firm Quinn Emanuel has been hired by claim funding group Bentham to prepare a case for the VW shareholders

Investors have seen more than €25bn wiped off the value of VW since the scandal emerged last month.

Quinn Emanuel and Bentham are contacting VW’s biggest shareholders to drum up support.

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Shares in German auto giant Volkswagen fell more than 13 percent on the Frankfurt stock exchange on September 21, 2015 after it emerged at the weekend that some of its diesel cars in the US had been fitted with software that gave false emissions data.     

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The sovereign wealth funds of Qatar – which owns a 17 per cent stake in VW – and Norway are among those being targeted. Porsche holds a 50 per cent stake and the German state of Lower Saxony owns 20 per cent.

Quinn Emanuel believes the damages could be calculated from 2009 – when VW started to fit the controversial devices to its engines.

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