Labaton Sucharow Announces Opportunity for Volkswagen Investors Who Suffered Losses in the Emissions Scandal
(Thomson Reuters ONE) -
NEW YORK, Oct. 22, 2015 (GLOBE NEWSWIRE) -- Labaton Sucharow LLP, AKD, and
Breiteneder Rechtsanwälte Attorneys at Law announced today an opportunity to
join the Stichting Volkswagen Investors Claim, a nonprofit organization
established in the Netherlands to represent the interests of investors in
Volkswagen Group ("VW") securities following the automobile manufacturer's
admission of fraud in the sale of cars with a built-in software that manipulated
emissions test data ("defeat device") and the subsequent decline in the share
price of VW securities.
A "Stichting" is a Dutch foundation established in the Netherlands that
represents the interests of victims and may resolve claims against a defendant
in the form of a collective settlement. The Stichting Volkswagen Investors Claim
("the Stichting") is governed by an independent, highly distinguished Board of
Directors, including:
* Roger Ganser, Chairman of the Board of Directors of the World Federation of
Investors;
* Dr. Henning Wegener, former Ambassador of the Federal Republic of Germany
and past Secretary General of the Asociación Española de Accionistas
Minoritarios de Empresas Cotizadas (AEMEC) - The Spanish Association of
Minority Shareholders of Listed Companies;
* Arie van der Steen, Co-Founder of ZMS BV;
* Javier Cremades, Founder and Senior Partner of international law firm
Cremades Calvo Satelo; and
* Wilfried Hübscher, former Chief Executive Officer of the Berlin Stock
Exchange.
Reflecting the vast international scope of the claims, the Stichting has engaged
counsel from the Netherlands (AKD), Austria (Breiteneder Rechtsanwälte Attorneys
at Law), and the United States (Labaton Sucharow LLP). These firms are also
working with attorneys from Spain (Cremades & Calvo-Sotelo Abogados) and other
European countries. The Stichting will receive further support from the
International Financial Litigation Network, a global network of sophisticated
litigation counsel comprising more than 20 law firms from 16 different
countries, as well as the World Federation of Investors, a worldwide, nonprofit
organization with 55 national shareholder association members.
Representing the interests of purchasers of VW securities in the U.S. and
worldwide, including common or preferred shares, and public or private debt
during the period 2008 - 2015, the Stichting will promptly serve VW with a claim
letter inviting VW to work towards a reasonable settlement in the interest of
all investors in VW securities to avoid further legal actions.
The Stichting aims to ascertain the financial losses to VW investors resulting
from the plunge in the prices of VW securities following the revelation of fraud
and to obtain compensation for participating investors resulting from VW's
wrongdoing.
The Stichting seeks to work with VW in a spirit of mutual respect to find a
reasonable and fair solution to the multifaceted and multinational problems
caused by the company providing incomplete and incorrect information to the
market-especially but not exclusively by not disclosing information that the
United States Environmental Protection Agency had begun investigations and by
hiding information that a defeat device was in place affecting more than 11
million of its diesel-powered vehicles. The Stichting and its advisors believe
that it is only in the Netherlands, under the country's unique procedures for
group resolution, that VW and its investors will be able to reach a meaningful
resolution to these widespread claims.
Lawrence A. Sucharow, Chairman of Labaton Sucharow said, "If compelled to
prosecute and defend these claims through the existing individual or mass
litigation channels throughout Europe and the world, Volkswagen and its
investors would be engaged in such activities for the next decade. The courts of
the Netherlands provide a superior alternative mechanism for collective redress
should Volkswagen desire an opportunity for greater resolution."
How to join
It is important for VW investors to join the Stitchting, which is accepting
participants at no direct cost. For more information on how to join the
Stichting Volkswagen Investors Claim, please contact Natalie Mackiel, Esq.,
(844) 247-2249, vwinvestors(at)labaton.com, or
visit www.stichtingvolkswageninvestorsclaim.com.
About Labaton Sucharow LLP
Labaton Sucharow prosecutes precedent-setting class actions, recovering billions
of dollars on behalf of defrauded consumers and investors. The Firm's successful
reputation is built not only on its team of nearly 60 attorneys, but also on its
industry-leading in-house investigators, financial analysts, and forensic
accountants. The Firm litigates in the areas of securities, antitrust, and
consumer protection law. For more information, visit www.labaton.com.
About AKD Lawyers & Civil-Law Notaries
AKD is one of the largest law firms in the Netherlands. With a team of over 200
lawyers and civil-law notaries, AKD delivers high-quality legal services in
nearly all practice areas based on a full-service approach. We are involved in
many high-profile cases and projects in the Netherlands, and many of our lawyers
are recognized in international league tables as leading in their fields of
expertise. AKD has offices in Amsterdam, Breda, Eindhoven, Rotterdam, and
Brussels. For more information, visit www.akd.nl/en.
About Breiteneder Rechtsanwälte Attorneys at Law
Breiteneder Rechtsanwälte Attorneys at Law is an Austrian-based dynamic office
with inventive cross-border legal solutions acting only on behalf of private and
institutional investors. The internationally recognized law firm specializes in
investor protection, securities litigation, and capital markets law. Breiteneder
focuses on reaching long-lasting solutions in mass damages by using synergies
between selective laws from involved countries and cooperates closely with
regulators and representatives of various national, regional, and international
interest groups. For more information, visitwww.breiteneder.pro.
Press Contact
Ivette Delgado
Communications Manager
Labaton Sucharow LLP
212-907-0634
idelgado(at)labaton.com
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Labaton Sucharow LLP via GlobeNewswire
[HUG#1960964]
Datum: 22.10.2015 - 17:46 Uhr
Sprache: Deutsch
News-ID 428906
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