{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Volkswagen must defend investor lawsuit in US – judge rules' data-url='/boclips/videos/6878ef3befa60ff713f241a8' data-video-url='/boclips/videos/6878ef3befa60ff713f241a8' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nVolkswagen must defend investor lawsuit in US – judge rules\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca href=\"/search?publisher_ids%5B%5D=\"\u003e/search?publisher_ids%5B%5D=\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eA US judge has ruled Volkswagen does have a case to answer in a California court over the company’s diesel emissions cheating scandal. The judge refused VW’s request to have an investor lawsuit tossed out. It had argued that German...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eA US judge has ruled Volkswagen does have a case to answer in a California court over the company’s diesel emissions cheating scandal.\u003cbr\u003e\u003cbr\u003e The judge refused VW’s request to have an investor lawsuit tossed out. It had argued that German courts were the proper place for a hearing. \u003cbr\u003e\u003cbr\u003e The investors – mostly US municipal pension funds – are suing for compensation of hundreds of millions of dollars.\u003cbr\u003e\u003cbr\u003e They allege VW and its executives committed securities fraud by misleading them and improperly inflating the price of its shares by cheating on the emissions tests. \u003cbr\u003e\u003cbr\u003e The shares slumped in value when that became public, falling 25 percent with VW’s market capitalisation down by $63 billion.\u003cbr\u003e\u003cbr\u003e US interest\u003cbr\u003e\u003cbr\u003e The plaintiffs had invested in VW through American Depositary Receipts (ADR), a form of equity ownership in a non-US company that represents the foreign shares of the company held on deposit by a bank in the company’s home country.\u003cbr\u003e\u003cbr\u003e US District Judge Charles Breyer said in his ruling that “because the United States has an interest in protecting domestic investors against securities fraud” the lawsuits should go forward in a US court.\u003cbr\u003e\u003cbr\u003e The judge also ruled that VW’s former Chief Executive Martin Winterkorn and VW brand head Herbert Diess must also defend the lawsuits brought personally against them.\u003cbr\u003e\u003cbr\u003e Costly scandal\u003cbr\u003e\u003cbr\u003e VW in September 2015 admitted using sophisticated secret software in its cars to cheat exhaust emissions tests, with 11 millions vehicles worldwide affected. \u003cbr\u003e\u003cbr\u003e The cheating allowed nearly 580,0000 of VW’s US diesel vehicles sold since 2009 to emit up to 40 times legally allowable pollution levels.\u003cbr\u003e\u003cbr\u003e Volkswagen has agreed to spend as much as $17.5 billion in the United States to resolve claims from owners and federal and state regulators over polluting diesel vehicles.\u003cbr\u003e\u003cbr\u003e Volkswagen must face legal charges in the US after losing a court battle to 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