Lower Saxony has no plans to sue VW over emissions scandal: Welt am Sonntag
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
A Volkswagen logo is seen at a dealership in Seoul, South Korea, August 2, 2016. REUTERS/Kim Hong-Ji
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
FRANKFURT (Reuters) - The German state of Lower Saxony, Volkswagen's
Earlier this week, the state of Bavaria said it would sue Volkswagen, the first regional government in VW's home country to take legal action against the company.
Lower Saxony, which has a veto power on VW's supervisory board and holds a fifth of VW's voting rights, currently sees no legal basis to claim damages, Weil told Welt am Sonntag.
"As a result there are no plans for a lawsuit," he was quoted as saying.
Europe's largest automaker is also caught up in legal action in the United States, South Korea and elsewhere, and is facing billions of dollars in costs related to its emissions-test manipulations, making it the biggest scandal in VW's history.
(Reporting by Christoph Steitz; Editing by Hugh Lawson)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Trump inauguration draws nearly 31 million U.S. television viewers
- British missile test malfunctioned last year off U.S. coast: Sunday Times
- Former U.S. President George H.W. Bush's health improves
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!