Compliance Perspectives: Volkswagen's Transformation
Daily Compliance News: March 3, 2020, the Devil’s Advocate edition
Compliance into the Weeds-Episode 62, Sentencing of VW Employee Oliver Schmidt
Day 20: What Does Innovation in Compliance Look Like?
The Tel Aviv District Court recently allowed a motion to certify a class action against the Volkswagen Group and its importer in Israel, Champion Motors Ltd. The class action focuses on the Dieselgate scandal, after an...more
The Third Circuit extended American Pipe tolling to the period before a decision on class-certification, opening a new avenue for potential class members to assert otherwise untimely individual securities claims. The Ninth...more
This week, Volkswagen AG’s U.S. entity and its Audi brand were hit with a class action for a data breach that allegedly compromised 3.3 million consumers’ personal information. ...more
Rhode Island Federal Court Dismisses Securities Class Action Against CVS Arising From Statements Made After Omnicare Acquisition; SEC Division of Corporation Finance Suggests Companies Issue Additional Disclosures When...more
Takeaway: Class actions brought under federal RICO present significant risks for defendants. They present the opportunity for certification of a nationwide class under a federal statute, and the remedies provided under...more
On November 12, 2020, Judge Charles R. Breyer of the U.S. District Court for the Northern District of California granted Volkswagen’s motion to exclude the testimony of the plaintiffs’ damages experts and dismissed the...more
As we previously noted in this post, the United States District Court for the Northern District of California dismissed the Volkswagen Bondholder Plaintiff’s first amended complaint, with leave to amend, holding that it could...more
Last month the Ninth Circuit affirmed a district court decision approving a class settlement regarding Volkwagen’s marketing of clean diesel vehicles that used so-called “defeat devices” to circumvent emissions tests. ...more
This case stems from alleged misstatement made by Volkswagen Group of America Finance (“VWGoAF”) in an Offering Memorandum governing the issuance of three sets of bonds. The bonds were offered in private placements with...more
More than 3 years after admitting to cheating on diesel emissions tests, Volkswagen appears poised to oust CEO Matthias Muller—likely in favor of former BMW exec Herbert Diess....more
A federal jury in Brooklyn has found former HSBC Holdings exec Mark Johnson guilty on 9 counts of front-running that grew out of the DOJ’s investigation into forex manipulation at HSBC....more
The Times gives us an intriguing long read on Uber’s Travis Kalanick, the controversial CEO whose vision has helped propel the ride-hailing company even as his no-limits approach has led the company into months of crisis....more
Answer: When your fee request was $25 million higher. And so it was in In Re: Volkswagen “Clean Diesel” Marketing, Sales Practices, and Products Liability Litigation, pending in federal court in San Francisco. ...more
The U.S. District Court for the Northern District of California held on January 4, 2017 that the federal securities laws apply to U.S. transactions in sponsored, but unlisted, American Depositary Receipts (“ADRs”) for a...more
Proposed settlement filed in Volkswagen class action - The class plaintiffs, the government and VW filed a proposed settlement agreement in court yesterday. I wanted to provide you with a copy of the proposed settlement...more
California Updates Data Security Laws - Why it matters: The first state to enact data breach notification legislation, California has now updated Civil Code Section 1798.82 with three new bills signed into law by...more
Commercials Pulled After Endorser Admits 9/11 Lies - The revelation that an endorser lied about his whereabouts on September 11 led a national sports-themed restaurant chain to stop airing commercials where the actor...more
Last week, on September 18, 2015, the EPA issued a News Release revealing that Volkswagen Group of America (“Volkswagen”) sold cars incorporating a “defeat device” as defined in the Clean Air Act (“CAA”) to purposefully evade...more
Vermont Volkswagen car owners headed by Charlotte resident Robert Turnau have sued Volkswagen companies in Germany and the United States over damages they suffered as a result of the company’s falsification of emissions...more