ROTTERDAM (April 08, 2016) – The board of the Stichting Volkswagen Investors Claim (“the Stichting”) announced today that Better Finance has committed to support the Stichting in pursuing recovery for investors who suffered investment losses resulting from the Volkswagen dieselgate. Better Finance, the European Federation of Investors and Financial Services Users, is the biggest and most important European-level umbrella organization solely dedicated to the representation of individual investors and other financial services users.
The Stichting was established as nonprofit organization in the Netherlands to represent the interests of investors in Volkswagen AG (VW), Porsche AG (Porsche), and Audi AG (Audi) who suffered damages due to „dieselgate”. The share price of VW, Porsche and Audi securities dropped after the vehicle manufacturers not adequately publicly disclosed admission of fraud in the sale of cars with a built-in software that manipulated emissions test data (“defeat device”).
Representing the interests of purchasers of VW, Porsche, and Audi securities not only in the U.S. but worldwide, the Stichting has invited VW to work towards a reasonable settlement in the interest of all investors in VW securities to avoid further legal actions. The addition of Better Finance further bolsters and expands the Stichting's broad European representation of VW investors. It reinforces the Stichting as the best opportunity for VW to resolve the issues and demonstrating growing investor anger and disappointment in VW's refusal to accept responsibility for its actions and damages inflicted on investors.
Better Finance has nearly 50 independent, national and international members and sub-members public interest non-governmental organizations, advocating and defending the interests of European citizens. Previously DSW, the oldest and largest German investor organization, announced to support the Stichting. Together with the International Financial Litigation Network, a global network of sophisticated litigation counsel, comprising more than 20 law firms from 16 different countries, and the World Federation of Investors, a worldwide, nonprofit organization with 55 national shareholder association members, who support the Stichting since it has been established, the Stichting continues to build its influence and advocate a reasonable resolution for all parties involved with VW.
How to join
VW investors can join the Stichting at no direct cost. For more information on how to join the Stichting Volkswagen Investors Claim, please visit our Homepage www.stichtingvolkswageninvestorsclaim.com or get in touch with our legal counsels.
The Board has retained three firms for funding, legal counsel, and advice.
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