Volkswagen AG (ADR) (OTCMKTS:VLKAY) Investor Securities Class Action Lawsuit 08/28/2017

If you purchased shares of Volkswagen AG (ADR) (OTCMKTS:VLKAY), you have certain options and for certain investors are short and strict deadlines running. Deadline: October 30, 2017. Volkswagen AG investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Volkswagen
Case Name: 
Volkswagen Shareholder Class Action Lawsuit 08/28/2017
Case Status: 
Lawsuit Filed
Affected Securities
OTC: VLKAY
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
08/28/2017
Class Period Begin: 
03/14/2013
Class Period End: 
07/26/2017
Court of Filing: 
U.S. District Court for the Eastern District of New York
Deadline To File for Lead: 
10/30/2017
Summary: 

August 28, 2017 (Shareholders Foundation) - An investor in shares of Volkswagen AG (ADR) (OTCMKTS:VLKAY) filed a lawsuit in the U.S. District Court for the Eastern District of New York over alleged violations of Federal Securities Laws by Volkswagen AG in connection with certain allegedly false and misleading statements made between March 14, 2013 and July 26, 2017.

According to the complaint the plaintiff alleges on behalf of purchasers of Volkswagen AG (ADR) (OTCMKTS:VLKAY) common shares between March 14, 2013 and July 26, 2017, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between March 14, 2013 and July 26, 2017, the defendants made false and/or misleading statements and/or failed to disclose that Volkswagen AG wrongfully colluded with other auto manufacturers on technology and supplier for decades, and that as a result, Volkswagen AG’s public statements were materially false and misleading at all relevant times.

On July 25, 2017, a lawsuit was filed in U.S. District Court for the District of New Jersey against Porsche AG, Volkswagen AG, Audi AG, BMW AG, and Mercedes-Benz USA, alleging violations of federal antitrust laws.

Specifically, the complaint alleges that since 2006, the carmakers conspired "to share commercially-sensitive information and reach unlawful agreements" in order "to impose a German automobile premium on consumers premised on superior German engineering, while secretly stunting incentives to innovate."

Then on July 28, 2017, a similar complaint was filed in U.S. District Court for the Northern District of California, and another complaint was filed in the District of New Jersey.

Shares of Volkswagen AG (ADR) (OTCMKTS:VLKAY) declined to $30.79 per share on August 7, 2017.