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VW delayed announcing cheating in hope of striking deal, its lawyers say

By Andreas Cremer and Jan Schwartz BERLIN/HAMBURG (Reuters) - Volkswagen's delay in announcing it had cheated U.S. diesel emission tests was a legitimate move aimed at striking a deal with regulators to limit the cost of the scandal, the carmaker's lawyers said in a report to a German court. The delay has led several shareholders to lodge lawsuits at the German regional court in Brunswick, claiming Volkswagen (VW) was too slow to inform them of its cheating. "The Volkswagen management board had a reason to assume that a consensual solution would be possible with the authorities, that would not have led to significant economic consequences for VW," the law firm said in the report seen by Reuters.

admin March 7, 2016

A logo of Volkswagen is pictured on the wall at the 86th International Motor Show in Geneva, Switzerland, March 1, 2016. REUTERS/Denis Balibouse

By Andreas Cremer and Jan Schwartz BERLIN/HAMBURG (Reuters) – Volkswagen’s delay in announcing it had cheated U.S. diesel emission tests was a legitimate move aimed at striking a deal with regulators to limit the cost of the scandal, the carmaker’s lawyers said in a report to a German court. The delay has led several shareholders to lodge lawsuits at the German regional court in Brunswick, claiming Volkswagen (VW) was too slow to inform them of its cheating. “The Volkswagen management board had a reason to assume that a consensual solution would be possible with the authorities, that would not have led to significant economic consequences for VW,” the law firm said in the report seen by Reuters.