Not Everyone is a Fan of the $14.7 Billion VW Settlement

By Patrick Ambrosio, Bloomberg BNA

A proposed $14.7 billion settlement among Volkswagen, a class of consumers and the federal government has drawn criticism from a number of parties, who are pushing for lower attorneys fees and additional compensation.

The proposed settlement would create a $10 billion compensation fund for owners who purchased or leased 2.0-liter Volkswagen diesels that were equipped with illegal defeat devices, technology that allowed the vehicles to pass emissions tests despite emitting far more pollution than allowed under normal driving conditions. Owners would have the options of selling their vehicles back to Volkswagen or, if a technical fix is approved by regulators, accepting a combination of a ...