Better Finance, the European Federation of Investors and Financial Services Users, has committed to support the Stichting (Foundation) Volkswagen Investors Claim in pursuing recovery for investors who suffered investment losses resulting from the Volkswagen (VW) emissions scandal.
To this day, the Dutch collective redress system remains the only system that can effectively represent abused European investors, particularly in cases of international abuse.
When the extent of the fallout following “Dieselgate” became clear and the share price of Volkswagen, Porsche and Audi securities fell when the vehicle manufacturer failed to adequately and publicly disclose admission of fraud, Better Finance asked its German member organisation DSW - the main German Investor association - to look into the different possibilities to obtain redress for abused Volkswagen investors.
DSW carried out extensive research into the various possibilities for VW investors to claim damages through legal services offered by several Dutch foundations and finally decided to partner with the Stichting Volkswagen Investors' Claim.
The Foundation is funded by international law firms with a strong track record in litigations involving Dutch investor foundations as well as experience with international cases similar to the potential VW case, this Foundation is best placed to represent the interest of VW investors, especially since their strategy is particularly suitable to retail investors from all countries.
Better Finance strongly supports the partnership between DSW and the Foundation and invites all Better Finance members to recommend their VW investors seeking to claim damages, to join forces under this initiative.