VW diesel emissions scandal
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Gavlar
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stevieturbo
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Baffling...lawsuits for what exactly ?
Just a bunch of greedy claim hungry ****ers.
Just a bunch of greedy claim hungry ****ers.
stevieturbo
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Loss in investment ??? Investments can go up and down, etc. Are the ones filing these claims from the presbyterian mutual society or something ?
They made an investment, they took a risk...tough **** they lost.
They made an investment, they took a risk...tough **** they lost.
Coog
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They lost money because of the scandal. It's nothing to do with market conditions, r&d, sales, profits, mergers or anything else that's in the remit of normal investment risks. So I'm afraid it's not a case of 'tough s***e', they are due compensation because of the way VW have conducted themselves by deliberately falsifying results.
Just like you would be due compensation if they fudged the financials and made themselves more valuable than they were.
Not all investors are multi millionnaires with spare money to lose. I'm sure many are employees. Whether these folk get what's owed to them or not is another thing though.
stevieturbo
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It's an investment.....if a company goes bust regardless of the reasons, you lose that investment. That's life, that's a risk you take when you invest...so choose your investment wisely and accept all risks or dont invest at all
This is no different.
When the whole world went tits up in 2008 from all sorts of dodgy dealings, was everyone getting sued because those investments lost money ? Nope.
The type of people trying to claim big compensation are probably mostly dodgy investors in the first place !
This is no different.
When the whole world went tits up in 2008 from all sorts of dodgy dealings, was everyone getting sued because those investments lost money ? Nope.
The type of people trying to claim big compensation are probably mostly dodgy investors in the first place !
Coog
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It's investors that are seeking compensation in this case.
Agree that the car owners really shouldn't be due much, though i hear the American owners are getting a tidy enough sum.
The news is and has been full of law suits from the 2008 crisis.
There's a difference between getting hammered because of market conditions and losing out because of fraud.
svensktoppen
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Not sure if you do. If you invest in a crooked company, the major creditors usually come first. Even before small creditors (customers...). And they usually clear out the account. Whatever is left that is, after the crooked owners have siphoned off whatever they can.
Got to do your homework, etc.
The only "guaranteed" compensation for bad investments that I know of is the bank guarantee, underwritten by the government. And that only applies to relatively small amounts of cash held in a bank account, not to any imagined "future profits". For example, pretty sure it might not even apply to an ISA or pension funds (could be wrong on those two, but doubt they are covered), never mind other investments.
The exception, of course, being if you were friends with Peter&Co and had invested in the Ulster Mutual
None of these law suits are about justice. They are just wars of attrition, and the game is to make sure that fighting them will be more expensive than settling. Relatively cheap for the lawfirms suing, as all they have to do really is keep lodging claims and appeals in court forever. Very expensive for the company as they have to contest every single claim, both in court and in media. Makes no difference who is "right" or "wrong".
Coog
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Well hopefully VW won't be going bankrupt but I know what you mean. Perhaps it was a bad example I used but I don't see why anyone should be berating investors for taking a company to court because the company defrauded them.
It's nothing to do with guarantees, companies going bankrupt through normal business practices or any normal sort of investment risks. It's a loss as a direct result of the company defrauding customers, governments, investors, etc. Investors are quite right to lodge whatever claims they see fit and let the courts or lawyers decide what the appropriate compensation is. Just like hundreds of million of dollars was made available to Enron investors and the dozens that's happened since. I would say there's slim to no chance of anyone getting back all of what they have lost but they're owed something.
This is very different to someone buying a VW Passat and sticking a claim in because they were misled on the emission figures. For that I agree that claiming is a load of nonsense (but I'm sure many will try).
stevieturbo
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They could go bankrupt and re-badge everything as Skodas or Audi...or worse...SEAT lol
stevieturbo
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Have a read of the rest of this thread, myself and others have already commented on this
As far as I remember the letter VW send you also confirm that performance and economy are not affected. I noticed no difference after getting the A4 done anyway.
Without getting into the technicalities (which are earlier in this thread) it's not possible that they won't be affected. However they may not be affected enough for the customer to notice or for VW to have to declare.
Otherwise why would they have cheated in the first place?
Mine got remapped, EGR and DPF removed a week after doing the recall. I only got it done so the box was ticked, didn't bother me what way it affected it anyway.
PeteM
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I don't see the gain in doing it, time is precious enough without having to having to plan that into yer day.
