VW investors seek $9 billion in damages over emissions scandal

Volkswagen Group faces 8.2 billion euros ($9.14 billion) in damage claims from investors over its emissions scandal in the legal district where the automaker is based, a German court said.

A total of about 1,400 lawsuits have been lodged at the regional court in Brunswick near Volkswagen's Wolfsburg headquarters, the court said today.

The Brunswick court said it received some 750 lawsuits on Monday alone, which marked the first business day after the one-year anniversary of VW's diesel emissions test-rigging scandal. read more »

Auto Parts Industry Executives Indicted for Obstruction of Justice

More Than 100 Charged in Wide-Spread Auto Parts Investigation

A federal grand jury in the U.S. District Court for the Eastern District of Michigan returned an indictment charging one current automotive parts industry executive and one former automotive parts industry executive with conspiring to obstruct a federal investigation.  The current executive also was charged with attempted obstruction of justice, the Justice Department announced today.

The indictment, filed today in Detroit, charges Futoshi Higashida and Mikio Katsumaru with conspiring to obstruct a federal investigation.  Higashida is also charged with attempted obstruction of justice.  During the charged conspiracy, Katsumaru was employed by an automotive parts company in Japan, and Higashida worked there and in Novi, Michigan, as president of that company’s U.S. joint venture with another company. read more »