VW Faces Billions in Fines as US Sues for Environmental Violations
|01/05/2016||Posted by BusinessMediaguide.Com under General World News||
The U.S. Justice Department has sued Volkswagen for up to $48 billion for allegedly violating environmental laws – 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.
“The announcement serves as a reminder/reality check of VW’s still unresolved emissions issues,” Goldman Sachs analysts wrote in a note, maintaining their “sell” recommendation on the stock.
VW shares fell as much as 6 percent to a six-week read more >>>
Source : VOANews.Com