Burkhard Fassbach

In the following guest post, Burkhard Fassbach, a D&O lawyer in private practice in Germany, discusses the recent interesting development in German Courts with regards to the VW’s Dieselgate settlement with its D&O insurers. As discussed below, the relevant court has held that the settlement is “null and void” because, the court held, the proper processes were not followed in obtaining shareholder approval of the settlement. I would like to thank Burkhard for allowing me to publish his article as a guest post on this site. I welcome guest post submissions from responsible authors on topics of interest to this site’s readers. Please contact me directly if you would like to submit a guest post. Here is Burkhard’s article.Continue Reading Guest Post: Dieselgate Landmark Victory for VW Minority Shareholders

Michael Hendricks

Burkhard Fassbach

As I discussed in a blog post at the time, in June 2021 VW announced that a settlement had been reached in the D&O liability action that had been filed against the company’s executives in connection with the “Dieselgate” scandal. The settlement, which had an aggregate value of approximately $351 million, was approved by VW shareholders in July 2021. However, minority shareholders have now filed a legal action against VW in an effort to oppose the settlement. In the following guest post, Michael Hendricks and Burkhard Fassbach review the minority shareholders’ legal action and discuss its implications. Michael is the founder of the German D&O specialist broker hendricks GmbH and Burkhard is a D&O-lawyer in private practice in Germany. I would like to thank Michael and Burkhard for allowing me to publish their article as a guest post on this site. I welcome guest post submissions from responsible authors on topics of interest to this blog’s readers. Please contact me directly if you would like to submit a guest post. Here is Michael and Burkhard’s article.
Continue Reading Guest Post: VW Dieselgate: Minority Shareholders File Suit Against D&O Settlement