11:45 a.m.
A federal judge in San Francisco said he's strongly inclined to approve a nearly $15 billion settlement over Volkswagen's emissions cheating scandal.
U.S. District Judge Charles Breyer made the comments at a hearing Tuesday to determine whether the deal is fair to consumers and should receive final approval. He didn't immediately issue a decision after hearing from Volkswagen owners opposed the settlement.
Breyer says he wants to consider objections to determine whether to recommend any changes and will issue a final ruling by Oct. 25.
The settlement calls for the German automaker to spend up to $10 billion to buy back or repair about 475,000 Volkswagens and Audi vehicles with 2-liter diesel engines and pay their owners an additional $5,100 to $10,000 each.
It also includes billions in environmental mitigation and investments to promote zero-emissions vehicles.
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10 a.m.
Several angry Volkswagen owners told a federal judge in San Francisco that a proposed $10 billion settlement does not adequately compensate them for the automaker's emissions fraud.
The owners objected to the settlement at a hearing Tuesday before U.S. District Court Judge Charles Breyer. The judge will determine whether the deal is fair to consumers and should receive final approval, though he may not rule at the hearing.
The settlement calls for Volkswagen to spend up to $10 billion to buy back or repair about 475,000 Volkswagens and Audi vehicles with 2-liter diesel engines and pay their owners an additional $5,100 to $10,000 each.
Some owners who spoke at the hearing demanded the full purchase price of their cars.
Attorneys who helped negotiate the deal said it was fair and had received support from the vast majority of eligible car owners.
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12:15 a.m.
A federal judge in San Francisco is set to hear from Volkswagen owners opposed to a $10 billion settlement over the automaker's emissions cheating scandal.
U.S. District Judge Charles Breyer has scheduled a hearing Tuesday to determine whether the deal is fair to consumers and should receive final approval. More than two dozen people have signed up to address the judge, who may not issue a decision at the hearing.
Breyer gave the deal preliminary approval in July. It calls for Volkswagen to spend up to $10 billion to buy back or repair about 475,000 Volkswagens and Audi vehicles with 2-liter diesel engines and pay their owners an additional $5,100 to $10,000 each.
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