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VW May Settle For Paying Investors $48m Over Diesel Emissions Scandal
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1 Dec 2018 12:10 AM EST

Volkswagen AG has been granted preliminary approval to a $48 million settlement for lying about excess diesel emissions. The automaker admitted to secretly installing software in nearly 500,000 U.S. light vehicles to skirt government exhaust emissions tests. The vehicles had emitted up to 40 times the legally allowable pollutants. According to Automotive News, Volkswagen has agreed to pay more than $25 billion in the United States for claims. It has also offered to buy back about 500,000 polluting U.S. vehicles. Judge Charles Breyer set a date for a fairness hearing for May 10th, after which a final ruling will be issued.

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