Justice Department Goes For The Throat With $48 BILLION Lawsuit Against VW

The U.S. Justice Department has sued Volkswagen for up to $48 billion for allegedly violating environmental laws - a reminder of the carmaker's problems nearly four months after its emissions scandal broke.

Although such U.S. lawsuits are typically settled at a fraction of the theoretical maximum penalty, analysts said the size of the claim meant Volkswagen (VW) could face a larger bill than previously anticipated.

"The announcement serves as a reminder/reality check of VW's still unresolved emissions issues," Goldman Sachs analysts wrote in a note, maintaining their "sell" recommendation on the stock.

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Yonder7 - 1/6/2016 12:19:58 PM

-2 Boost

That's to save GM and all North American Car Manufacturers? .....wow...smart move. this is going to be the end of VW.

W208 - 1/6/2016 12:36:16 PM

+2 Boost

I can see this playing out like a bailout scenario: The U.S. Gov. will own a portion of VW while they make payments. They should use this opportunity to make back the $11billion they lost on GM.

Yonder7 - 1/6/2016 1:51:27 PM

+2 Boost

W208: You are smart man, but still y see the amount of money as something outrageous... is too much; How much should GM pay for all those people killed by the switchgate and all the security issues? ....

IamEvilHomer - 1/6/2016 6:35:26 PM

+1 Boost

Vw should just drag their feet and in a year Obama and his ridiculous EPA will be no more

MDarringer - 1/6/2016 7:51:29 PM

+1 Boost

As much as I am delighted to see VW humbled, I agree with you on waiting for the regime change in Washington.