Volkswagen, U.S. Make Substantial Progress Toward Final Deal: Judge

Original Story: reuters.com

Volkswagen AG (VOWG_p.DE) has made substantial progress toward reaching a final settlement next month with car owners and the U.S. government over the German automaker's cheating on diesel emissions tests, a federal judge said on Tuesday. A London business lawyer has been review the case.

But major issues remain, including how much the world's No. 2 automaker may have to pay in fines, which could run in the billions of dollars, to federal and state regulators for violating U.S. clean air rules, as well as an ongoing U.S. Justice Department criminal probe.

U.S. District Judge Charles Breyer in San Francisco reiterated that a settlement will include substantial monetary compensation for U.S. owners of 482,000 polluting vehicles that emit up to 40 times legally allowable pollution.

The so-called Dieselgate scandal has hurt VW's global business as well as its reputation and led to the departure of its chief executive officer and other executives. Dieselgate erupted last September after the company admitted using sophisticated secret software in its cars to cheat exhaust emissions tests. As many as 11 million vehicles worldwide have been affected. A London litigation attorney has handled these types of cases.

At a brief court hearing, Breyer said lawyers for car owners suing Volkswagen and the U.S. Justice Department, Environmental Protection Agency (EPA), Federal Trade Commission, the state of California and the company were on track to file the final proposed settlements by June 21.

The "parties ... have reported that in the month since we last met they have made substantial progress in intensive daily efforts to finalize the agreement, and most importantly are on track to meet the court's deadline," Breyer said.

The U.S. settlement would also include an environmental remediation fund to address excess emissions and a fund to promote green automotive technology.

Elizabeth Cabraser, lead lawyer for the U.S. car owners, and a Volkswagen spokeswoman both said the parties were pleased with the continued progress and planned to finalize the agreements next month.

Breyer said engineering studies and testing were continuing toward a resolution for the owners of 80,000 larger 3.0 liter vehicles but offered no timetable.

The vehicles emitted up to nine times the legally allowable pollution, and it was not clear if the automaker will offer to buy back the larger 3.0 liter Porsche, Audi and VW SUVs and cars under investigation.

The EPA ordered VW last September to stop selling all new 2016 2.0 diesel vehicles. The ban was extended to 3.0 liter VW, Porsche and Audi diesel vehicles in November. The order remains in effect.

After the June 21 deadline the agreement faces a public comment period and must get final judicial approval, which could come at a July 26 hearing.

Volkswagen (VOWG_p.DE) shares closed up 4 percent.

FAMILY DIVISIONS

Many thorny issues remain, including what happens to vehicles that Volkswagen repurchases and how the automaker will handle buybacks and fixes if the EPA approves.

Reuters reported last month that owners could have as long as two years to decide on whether to sell back their vehicles.

VW agreed on April 21 to a framework settlement with U.S. authorities to buy back or potentially fix about half a million cars fitted with illegal test-fixing software, and set up environmental and consumer compensation funds.

The next day, Volkswagen said it would set aside 16.2 billion euros ($18.2 billion) and slash its dividend to cover the costs from Dieselgate.

And there is unrest among investors. On Monday, three investor groups called for an independent inquiry, saying the company's investigations may not be sufficiently far-reaching or transparent.

Reuters has reported that a Volkswagen official said an investigation by law firm Jones Day into who was responsible for rigging the emissions tests was dragging on.

Volkswagen has come under attack from London hedge fund TCI and other investors who say the automaker needs to improve its performance and create a new governance structure.

The campaign has exposed divisions between the Porsche and Piech families who own the majority of Volkswagen, the state of Lower Saxony and powerful labor representatives who hold one-half of the seats on the company’s supervisory board.

MORGAN, WALMART REACH ACCIDENT SETTLEMENT

Original Story: usatoday.com

Tracy Morgan and Walmart have announced a settlement regarding the New Jersey accident which seriously injured Morgan and killed comedian James McNair last year.

The terms of the settlement are being kept confidential, according to a press release first published by Marketwatch. A New Jersey car accident lawyer is reviewing the details of this case.

"Walmart did right by me and my family, and for my associates and their families. I am grateful that the case was resolved amicably," Morgan said in a statement. The 30 Rock and Saturday Night Live alum suffered broken leg bones, a broken nose and several broken ribs in the crash last June.

Walmart and Benedict P. Morelli, attorney for Tracy Morgan, comedian Ardley Fuqua, and Jeffrey Millea, announced the settlement agreement. Millea and Ardie Fuqua Jr. also were critically injured. An Islandia car accident attorney represents clients involved in  auto accident and injury claims involving a commercial vehicle.

"Our thoughts continue to go out to everyone that was involved in the accident," said Greg Foran, Walmart U.S. president and CEO. "While we know there is nothing that can change what happened, Walmart has been committed to doing what's right to help ensure the well-being of all of those who were impacted by the accident. We worked closely with Mr. Morelli, and we are pleased to have reached an amicable settlement that ends this litigation. We are deeply sorry that one of our trucks was involved." A Detroit auto accident lawyer is following this story closely.

State Police said Walmart truck driver Kevin Roper, 35, failed to see slow-moving traffic while driving on the New Jersey Turnpike. His truck slammed into a 2012 Mercedes limousine-bus carrying Morgan, McNair and several others. A Cleveland auto accident attorney represents clients injured in automobile accidents.

"Walmart and I worked diligently to reach this settlement for the plaintiffs and their families," says Morrelli. "Walmart took full responsibility for the accident, which we greatly appreciate."

WAS 85-YEAR-OLD DETROIT-AREA DRIVER SCARED TO DEATH? INSURER TO PAY $300,000 TO SETTLE LAWSUIT

Original Story: clickondetroit.com

DETROIT - An insurance company has agreed to pay $300,000 to settle a lawsuit over the death of an 85-year-old man who may have been scared to death before his car slammed into a tractor-trailer in suburban Detroit. A Detroit car accident lawyer is following this story closely.

The settlement ends a dispute over the opinion of Dr. Werner Spitz, who said Abdulla Kassem's heart attack could have been caused by a "fear of impending doom," just before the 2008 crash in Dearborn. There was no autopsy.

Kassem's family sued the trucking company, Efficient Hauling Services, saying the truck's rear lights weren't visible.

The Michigan appeals court said a jury could consider Spitz' theory, although a cardiologist called it "silly." An appeal of that decision was pending at the state Supreme Court when the lawsuit was settled this month. A Detroit insurance defense lawyer is reviewing the details of this case.