Volkswagen Fraud Scandal Shocks Consumers and Regulators
For Volkswagen, the past week has been a case of one domino toppling another. After more than a year spent sticking to its story that discrepancies in the emissions of its diesel engines were technical glitches, the company finally admitted to cheating on air pollution tests. VW’s market value went into a tailspin, the U.S. Justice Department launched a criminal probe of Volkswagen, and company CEO Martin Winterkorn resigned.
Although the dust hasn’t yet settled, a few things are clear. VW’s emissions fraud impacts at least 11 million cars worldwide, including Volkswagen Passats, Jettas, Golfs, and Beetles, as well as Audi A3s. The company has set aside $7.3 billion to deal with the problem. It could be facing another $18 billion in potential fines. VW says it will “refit” impacted cars, but doesn’t specify how. The manufacturer will be cut from the Dow Jones Sustainability Index. But that doesn’t begin to address the core issue: betrayal of VW customers.
After all, many of the 500,000 U.S. consumers with impacted cars chose VW’s “clean diesel” models because they wanted an eco-friendly ride or because they wanted better mileage – or both. Instead, they were sold a pack of lies.
If you have been a victim of VW’s emissions fraud, you do have recourse. Lemberg Law is aggressively pursuing clients’ claims against Volkswagen, and is determined to achieve maximum recovery for clients as soon as possible. Indeed, compensation is likely to be higher by pursuing an individual claim now rather than waiting many years to recover damages in class action cases.
Lemberg Law has launched a hotline and a website (www.vw-scandal.com) for owners of impacted vehicles. VW and Audi owners who would like a complimentary case review can complete the form on the site or call 855-301-2100.