June 28, 2016

New York announced its participation in an interrelated series of partial settlements with Volkswagen AG and its Audi and Porsche affiliates arising from Volkswagen’s violations of emissions standards and state consumer protection laws. As part of the settlements, some of which are still subject to court approval, all owners of 2.0 liter, 4-cylinder engine VW and Audi diesel cars in New York will be entitled to be paid full, pre-scandal fair market value for their vehicle, in addition to a cash payment of at least $5,100. Under the deal, car owners may also choose to keep their vehicle and wait to see if VW and Audi develop acceptable emissions fixes; car owners who exercise this option will also receive a cash payment of at least $5,100. The settlements will also direct to New York over $115 million for environmental projects to improve New York’s air quality, as well as over $30 million in additional monetary recoveries for the state’s general fund. NY, FL, TX

Tagged in: Environmental Fraud,