Whilst much noise has been made in relation to consumer claims against Volkswagen (VW) arising from the announcements made by the Environmental Protection Agency (EPA) in the US and the company itself, shareholder fraud specialists Edwin Coe LLP is advising in relation to the claims shareholders have against the company following the consequent drop in share value arising from the news of the fixing of emission tests.

The controversy is centred on “defeat devices” Volkswagen used to fool US emissions tests on diesel cars into believing the vehicles met environmental standards. VW’s revelation on Tuesday, 22 September 2015, that 11 million diesel cars worldwide are equipped with the device led to a 20% fall in its share price on the Frankfurt Stock Exchange.

Volkswagen shares closed down 19.82% at €106, meaning some €26bn or so has been wiped off the value of the German manufacturer this week alone and specialist David Greene, partner at Edwin Coe LLP, predicts that shareholders will have a claim to bring against Volkswagen.

David Greene commented: “Shareholders have seen a dramatic fall in the share price over the past few days resulting from the news of the company’s conduct. If it is correct that the company purposefully committed, effectively, a fraud on its customers the company will have committed, what the Americans would call, a fraud on its shareholders, conducting itself unlawfully and then keeping from shareholders information that was likely to affect the share price (as it has).”

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For further information on this news release, please contact:-

David Greene
Senior Partner
T: 020 7691 4000
M 07768 301221
[email protected]

Tanya Byrne
Head of Business Development & Marketing
T: 020 7691 4173
[email protected]

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Founded in 1913 and based in Lincoln's Inn, Edwin Coe is a leading independent London law firm built on clarity, collaboration and trust. We specialise in dispute resolution, private capital and cross-border matters.

What began as a boutique disputes practice over 100 years ago has evolved into a firm advising private clients, entrepreneurs, family offices, UK and international businesses across the areas of corporate, private client, real estate and litigation. Throughout that evolution, one thing has remained constant – our belief that the best advice combines legal insight with human understanding.

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