Newswise — Art Wheaton, automotive expert and senior extension associate with Cornell University’s School of Industrial and Labor Relations, says reaching a settlement with the U.S. Environmental Protection Agency will be difficult, but is critical for the company.
“Volkswagen could face a maximum of $46 billion in EPA emission fines for 580,000 vehicles. It is critical VW reaches a settlement and not pay full fines. The company still faces as many as 50 attorney general fraud cases for false advertisement, claiming their vehicles are a clean alternative to hybrids. They also face lawsuits from dealerships and customers. The EPA settlement is the biggest and most difficult settlement.
“Hiring Ken Feinberg to handle lawsuits from customers with at least a billion dollars settlement fund is a smart move. Today, they hope to get court approval.”