Volkswagen has reached an agreement in principle with the US authorities
OREANDA-NEWS. In connection with the diesel issue, Volkswagen AG confirms that an agreement in principle with the Department of Justice (Environmental Division), the Environment Protection Agency (EPA), and the California Air Resources Board (CARB), with the full involvement of the Federal Trade Commission (FTC), has been reached in the United States. This agreement in principle will be incorporated into binding consent decrees by the Department of Justice and the FTC in the coming weeks.
Furthermore, Volkswagen has reached an agreement on the basic features of a settlement with the class action plaintiffs in the lawsuit in San Francisco. This agreement will be incorporated into a comprehensive settlement in the coming weeks.
The judge presiding over today’s court hearing in San Francisco, Charles R. Breyer, expressly welcomed this development.
The arrangements in the making in the United States will have no legal bearing on proceedings outside of the United States.
Ongoing investigations by the Department of Justice, Criminal Division, and the State Attorneys General are not prejudiced by these agreements in principle.