Norways $850bn oil fund to sue Volkswagen

[Kedis82ZE8]

Norways $850bn oil fund to sue Volkswagen

http://www.cnbc.com/2016/05/15/financial-times-norwayas-850bn-oil-fund-to-sue-volkswagen.html


"The world's largest sovereign wealth fund is planning to sue Volkswagen in a rare legal action from Norway's $850bn oil fund that underscores investor anger over the emissions scandal at the German carmaker.

The oil fund, the carmaker's fourth-largest shareholder, told the Financial Times that it would take legal action against VW in German courts by seeking to join one of the class-action suits being prepared there. "

 

[Seabright]

Shareholder is suing VW to recoup losses, which will hurt the company and also depress the stock. VW is in a bad position, losing money to fix the problem, compensate customers, and dealing with the lawsuits. Upcoming product investments will be impacted. Competitors will pick up share. And the German government is looking at a GDP impact. I expect behind the scenes the German government is working to move past the issues quickly with other governments.

 

[buyingconstant7]

I'm a diehard VW fan. I have a couple, myself. But no matter who you are, if you think they're dirty criminals who should all die and be sent to hell, or if you couldn't care less, VW did something WRONG and needs to pay. I'll be more than happy to have them fix my car and give me the $5,000 they're promising. Karma is a b****

 

[Unobtanium]

I always viewed VW as a ladyboy's car (except the classic Bug). Now they are a dirty ladyboy's car, lol!