$15 billion Volkswagen emissions deal faces critical test
SAN FRANCISCO (AP) — A $15 billion settlement over Volkswagen's emissions cheating scandal faced a critical test today, with a federal judge deciding whether to grant it preliminary approval.
U.S. District Judge Charles Breyer appeared inclined to support it. He has kept close watch over the negotiations and previously praised the efforts of attorneys and a court-appointed settlement master who helped broker the deal.
Preliminary approval would allow attorneys to notify vehicle owners of the terms, which include a buyback option. Breyer is expected to decide in October whether to grant final approval or tell the sides to keep negotiating.
The German carmaker agreed last month to spend up to $10 billion buying back or repairing about 475,000 Volkswagens and Audi diesel cars with 2-liter engines and paying owners $5,100 to $10,000 each. Details about the vehicle repairs have not been finalized.