SEC Distribution Fund Established for Volkswagen 144A Bondholders Following Misconduct Settlement
The U.S. Securities and Exchange Commission (SEC) has authorized a distribution fund to compensate investors who purchased 144A Bonds issued by Volkswagen Group of America Finance, LLC between November 20, 2014, and September 18, 2015. The fund stems from litigation regarding the 'Clean Diesel' marketing and sales practices misconduct. Defendants have contributed a total of $48,750,000 to the distribution fund. Eligible claimants who suffered losses during the relevant period can apply for payments via an online portal or mail. Payments will be calculated based on recognized losses, with a minimum distribution threshold set at $250.00 per claimant.
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Topics: bondholder compensation distribution fund SEC enforcement securities litigation