Volkswagen Hit With First-Of-Its-Kind Mass Lawsuit In Germany

Volkswagen (VW) has refused to settle with German buyers over the 2015 emissions cheating scandal, leading to a lawsuit involving around 470,000 VW owners. This is the first class action suit of its kind in Germany, following a new law allowing such lawsuits. VW denies causing harm, arguing that many people drive its cars daily without issue. The company expects the lawsuit to last at least four years. Additionally, two VW executives, including the CEO, have been charged with market manipulation for not informing investors about the financial risks of the scandal in a timely manner.

What recent legal change in Germany allowed for this class action lawsuit?

What was the consequence faced by VW executives last week?