Volkswagen Investor Settlement Foundation

Bernstein Litowitz Berger & Grossmann LLP

The Foundation's Chair, the Hon. Huub Willems, and its US and European counsel will discuss its strategy for recovering Volkswagen ("VW") investor losses.  VW’s admitted cheating of emissions tests caused massive declines in the prices of VW ordinary shares, American Depository Receipts ("ADRs") and VW preference shares, erasing tens of billions of dollars in investors' assets. Additionally, VW faces criminal investigations and massive civil penalties from governments around the world, and has set aside over $7.3 billion to cover the costs of the cheating scandal. The US District Court for the Northern District of California has appointed leading shareholder rights law firm Bernstein Litowitz Berger & Grossmann ("BLB&G") as sole Lead Counsel in the pending ADR securities class action case. Coextensive with BLB&G's appointment as Lead Counsel, the Firm established the Volkswagen Investor Settlement Foundation in the Netherlands under the Dutch Collective Settlement Act (the "Act") to provide a vehicle to recover damages in VW's other publicly traded securities.
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