Volkswagen Closes In on $4.3 Billion US Settlement in Diesel Scandal (bloomberg.com)

Volkswagen said it's closing in on a deal with U.S. authorities on a $4.3 billion settlement to resolve civil and criminal allegations stemming from its emissions-cheating scandal. From a report on Bloomberg: The agreement, which has yet to be finalized, would lead to a financial expense that exceeds current provisions, the German automaker said. It also includes a guilty plea to some criminal charges, strengthening compliance systems and installing an independent monitor for three years, the Wolfsburg, Germany-based automaker said Tuesday in a statement. VW's management and supervisory boards are scheduled to review the settlement today or Wednesday and may raise provisions related to the scandal, which currently total 18.2 billion euros ($19.2 billion). A final agreement also needs to be approved by U.S. courts. The U.S. Justice Department declined to comment on Volkswagen's statement.

Comments

Re:double standards

[plague911]

I am sure there are dead enders on this, but the complaints come in when one of two things happen.

1) The EU targets a US company but the US deems their behavior acceptable

2) The EU targets a US company but lets similar behavior by non-US companies slide.

The former is the most common issue.