Volkswagen will pay nearly $15 billion to settle emissions cheating in the U.S. It's one of the largest ever consumer class actions.
Monday, June 27, 2016 6:50 PM EDT
Volkswagen has agreed to pay nearly $15 billion to settle claims stemming from its diesel emissions cheating scandal in what would be one of the largest consumer class-action settlements ever in the United States.
The proposed settlement, valued at $14.7 billion and involving the federal government and lawyers representing the owners of about 475,000 Volkswagen vehicles, includes more than $10 billion to buy back affected cars at their pre-scandal values, and additional cash compensation for the owners, according to two people briefed on the settlement’s terms.
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