– The one time that Jensen and the government is considering legal action against VW and other carmakers who have deliberately manipulated the pollution from the cars to appear lower than it is, says Member of Parliament for SV, Heikki Holmås said.
He believes VW has been doing serious tax evasion in Norway, through tricking the authorities to charge lower fees, in addition to new car buyers have been duped.
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– Until now the government has been passive and allowed impostors releasing consequences, says Holmås.
Oil Fund plaintiff
The German carmaker is already facing a number of lawsuits from shareholders who are demanding compensation for the sharp price drop as the scandal has led to.
Financial Times wrote Sunday that oil fund has endorsed one of the lawsuits.
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– We have received advice from our lawyers about the company’s behavior allows for legal requirements under German law. As an investor, it is our responsibility to safeguard the fund’s stake in Volkswagen, said investment director Petter Johnsen at Norges Bank Investment Management said.
In addition, a number of car owners sued VW.
Ownership
Industrial giant has earmarked 16.2 billion euros (about 150 billion) to cover possible fines, lawsuits and costs of the recall of cars, reports AFP. VW had last year post its first loss since 1993.
The Pension Fund has previously criticized the ownership structure of Volkswagen. The Fund owns 1.64 percent of the company’s common stock, according to Bloomberg, a shareholding as at the end of last year was worth $ 750 million.
Gigant Requirements
In March delivered almost 278 institutional investors with a lawsuit by the company, claiming compensation of 3.25 billion euros, equivalent to around 30 billion. German insurance companies and US pension funds were among the plaintiffs, according to Reuters.
Oil Fund is, according to the Financial Times wary of VW’s management claim that employees who acted without clearance from above, developed the software that was designed to trick emissions tests.
– VW management should have known about the means to manipulate the engines, says Johnsen.
(NTB).
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