The majority of the suits have been filed on behalf of Volkswagen diesel passenger car owners seeking repayment for their cars lost value and could cost the automaker hundreds of millions of dollars. In addition to the lost value suits, San Diego attorney Darren Robins has also filed a lawsuit on behalf of VW shareholders upset over the plunging value of the automaker’s stock.
“The senior executives named in this lawsuit misrepresented the very nature of the product they were selling,” Robbins explained to CNN. “When the truth about the product was revealed, the stock dropped precipitously. That’s an easy story to get a jury to understand.”
In addition to the customer and shareholder suits, Robbins is planning on filing a lawsuit against the automaker on behalf of certain dealers as well. The automaker is also facing a maximum of $18 billion in fines for violating the U.S. Clean Air Act and could take another $7.8 billion dollar hit to cover the cost of bringing all of its vehicles with in compliance of the law.