$399M Settlement Approved with Volkswagen, Former Execs

In 2015, Volkswagen admitted to cheating U.S. diesel engine tests.
In 2015, Volkswagen admitted to cheating U.S. diesel engine tests.
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Volkswagen’s shareholders approved a deal to settle claims against four former executives on Thursday, Reuters reported. Former CEO Martin Winterkorn was among the four executives.

The claims were regarding the carmaker’s emission scandal. In 2015, Volkswagen admitted to cheating U.S. diesel engine tests.

Volkswagen will receive $399 million in compensation. The deal, which was announced last month, required shareholder approval and 99.9% of investors agreed to the proposal. 

The scandal has cost Volkswagen north of $37 billion in vehicle refits, fines and legal costs.

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