Stichting Volkswagen Investors Claim's U.S. counsel, Mr. Wiebe, has successfully filed a joint application for an Order Pursuant to 28 U.S.C. § 1782 to Obtain Discovery for Use in Foreign Proceedings ("Discovery Proceedings") for both Stichting Volkswagen Investors Claim and Stichting Volkswagen Car Claim. The next step in the process will be a status conference on Thursday, 25 August 2016 at which the Court plans to set a hearing date for the Discovery Proceedings applications. It is needless to say that we will keep you informed about the status of the proceedings.
After the Volkswagen AGM it became apparent that Volkswagen will only move under judicial pressure. WFI feels the obligation to inform VW investors to consider participating in a court case for compensation vs. VW in Germany because the statute of limitation in Germany could run out on 18 of September, 2016. The Stichting foundation will recommend a funding/legal representation package to retail investors and others. We are still awaiting the complete package from the German law firms involved for the Stichting Board to make its recommendation.
Deutsche Schutzvereinigung für – Wertpapierbesitz e.V. (DSW) has advised that Nieding+Partner will only accept investor applications until Aug 1, 2016 and in doing so investors can still retain their membership rights in any claim by Stichting Volkswagen Investors Claim.
Archived info: Better Finance and DSW Join WFI in Volkswagen Claim