SEC Distribution Fund Established for Volkswagen 144A Bondholders
The U.S. Securities and Exchange Commission (SEC) has authorized a distribution fund to compensate investors who held 144A bonds issued by Volkswagen Group of America Finance, LLC during specific periods in 2014 and 2015. This settlement stems from litigation regarding the marketing and sale practices related to Volkswagen's "Clean Diesel" products. The total amount paid into the distribution fund by the defendants is $48.75 million. Eligible claimants who suffered losses due to the alleged misconduct must submit a claim via the official portal or mail by February 26, 2027. Payments will be calculated based on recognized losses, subject to available funds and a minimum distribution threshold of $250.
Topics: bondholder compensation litigation SEC settlement Volkswagen diesel scandal
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