Daimler expected to pay up to €1.8B over Dieselgate

Tuesday, 07. January 2020 14:01

German automaker Daimler AG is expected to pay up to €1.8 billion in damages to private and institutional plaintiffs investors for damages in the so-called Dieselgate scandal, WirtschaftsWoche reported on Tuesday.

According to the firm, the lawsuit filed in late December has reached €896 million. However, the legal firm representing investors such as capital management companies, banks, and pension funds, is in discussions with other plaintiffs, as well. "The total amount of damage arising from our lawsuits is expected to increase to 1.8 billion euros in 2020," one of the lawyers pointed out.

The company's stock climbed 0.93% at 1:56 pm CET. Since the emissions scandal in 2015, the auto giant's shares have lost nearly 30% of the value.

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Breaking the News / GG