Published: Thu, May 11, 2017
Business | By Max Garcia

Judge approves emissions-cheating settlement for 3-liter VWs

Judge approves emissions-cheating settlement for 3-liter VWs

(Adds court hearing, background on VW settlement) By David Shepardson May 11 (Reuters) - Volkswagen AG's USA unit said Thursday it has named a KPMG LLP director, Stephanie C. Davis, as its chief compliance officer after it was sentenced in April in its diesel emissions scandal.

SAN FRANCISCO (AP) - A federal judge in San Francisco has approved a $1.2 billion settlement with owners of about 88,500 Volkswagens with 3-liter diesel engines rigged to cheat on emissions tests.

The scandal, uncovered by federal and state regulators in 2015, also involves 475,000 2.0-liter vehicles, with the equipped software allowing the vehicles to emit pollution up to 40 times the legal limit. That could push the value of the settlement to $4 billion.

Breyer called Thursday's settlement "fair, reasonable and adequate", and the firm representing consumer plaintiffs opposing VW said it was "very pleased" with the decision.

In total, VW has now agreed to spend up to $25 billion in the United States to address claims from owners, environmental regulators, USA states and dealers and to make buyback offers.

Volkswagen AG's VOWG_p.DE U.S. unit said Thursday it has named a KPMG LLP director, Stephanie C. Davis, as its chief compliance officer after it was sentenced in April in its diesel emissions scandal. Over the next three years, VW must test all of its USA vehicles using portable emissions measurement system testing - a method created to capture real world emissions and deter cheating.

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