Automotive News: U.S. Judge Allows VW Bondholder Suit to Continue, Justice Department expected to drop $3 million Harley-Davidson emissions penalty: sources
U.S. Judge Allows VW Bondholder Suit to Continue
A federal judge in California on Wednesday allowed some claims to proceed by bondholders who sued Volkswagen AG over its diesel emissions scandal, but agreed to the German automaker's request to dismiss parts of the lawsuit.
U.S. District Judge Charles Breyer said in a 31-page order he was allowing a suit against VW and then-Chief Executive Officer Martin Winterkorn to go forward from institutional investors who bought bonds from the German automaker in 2014 and 2015.
The ruling is similar to a decision from Breyer in June allowing a suit to proceed from plaintiffs who invested in VW through American Depositary Receipts, a form of equity ownership in a non-U.S. company that represents the foreign shares of the company held on deposit by a bank in the company's home country.
Justice Department expected to drop $3 million Harley-Davidson emissions penalty: sources
The U.S. Justice Department is expected to announce this week it is dropping a requirement that Harley-Davidson Inc (HOG.N) spend $3 million to reduce air pollution as part of a settlement the Obama administration announced in August, sources briefed on the matter said.
Last year, the Milwaukee-based motorcycle maker agreed to pay a $12 million civil fine and stop selling illegal after-market devices that cause its vehicles to emit too much pollution as part of a federal court consent decree. It also agreed to spend about $3 million and enter into an agreement with the American Lung Association of the Northeast to retrofit or replace wood-burning appliances with cleaner stoves. read more »
U.S. House panel approves broad proposal on self-driving cars
A U.S. House panel on Wednesday approved a sweeping proposal by voice vote to allow automakers to deploy up to 100,000 self-driving vehicles without meeting existing auto safety standards and bar states from imposing driverless car rules. read more »
