Hessen and. Baden-Wurttemberg Check given the strong depreciation of VW shares legal because the exhaust scandal action against the carmaker. Bayern had already announced an action for damages against Volkswagen.
Whether Hessen will follow suit, was still being dealt, BelTA learned from the Ministry of Finance in Wiesbaden. Reason are losses in the so-called pension reserve of the country was by selling VW shares of around 3.9 million euros.
The shares are part of the installation package for the pension reserve of the country, reported the Ministry of Finance. With the administration the German Bundesbank is entrusted. These have sold the shares immediately after learning of the accusations of manipulation. Against VW there are already many shareholder lawsuits from home and abroad, with Bayern had on Tuesday a first State announced such a move. In other provinces and the federal government, there are no relevant considerations.
As with the other applicant VW shareholders goes Bayern assume that VW has informed too late about the risks of gas scandal. Volkswagen had previously rejected as unfounded and stressed that they had properly fulfilled all reporting obligations. At the announcement of Bavaria, the Group declined to comment.
Baden-Württemberg considered a lawsuit against VW. The country held at the announcement of the diesel affair around 64,600 shares of the car manufacturer. Statements about the degree of possible damage are not yet possible. Bayern held in its multibillion-dollar fund in September 2015 around 58 000 VW preference shares.
The VW-Land Niedersachsen will initially not institute court proceedings. Schleswig-Holstein, Bremen, Hamburg, North Rhine-Westphalia, Mecklenburg-West Pomerania, Berlin, Brandenburg, Thuringia, Saxony, Saarland and Rhineland-Palatinate also want to not complain, either, because you hold no shares of VW or only indirectly. Saxony-Anhalt is currently examining the composition of its own plants.
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