Institutional investors are suing Volkswagen for 3.25 billion euros ($3.57 billion) in damages over the company’s handling of its emissions scandal, which has so far seen the share price fall by about a third.
Attorney Andreas Tilp said Tuesday that the suit in the German regional court in Braunschweig was joined by investors from 14 countries, including the U.S., Australia, Germany, Canada, the Netherlands, and the U.K. Among the plaintiffs is CalPERS, the giant pension fund for government employees in California.
