The Traderszone Network

Published in TZ Latest News 5 January, 2016 by The TZ Newswire Staff

Volkswagen faces billions in fines as U.S. sues for environmental violations

WASHINGTON/FRANKFURT (Reuters) – The U.S. Justice Department has sued Volkswagen for up to $90 billion for allegedly violating environmental laws – five times regulators’ initial estimate and a reminder of the carmaker’s problems nearly four months after its emissions scandal broke. Although such U.S. lawsuits are typically settled at a fraction of the theoretical maximum penalty, analysts said the size of the claim meant Volkswagen (VW) could face a larger bill than previously anticipated.

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