WASHINGTON, D.C. — U.S. Market Advisors Law Group PLLC announces that a class action lawsuit has been filed against Volkswagen AG, its wholly owned subsidiary Volkswagen Group of America, Inc., its further subsidiary Volkswagen Group of America Finance, Inc. (together, “Volkswagen”), and certain senior executives (collectively “Defendants”). The action asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”), and U.S. Securities and Exchange Commission (“SEC”) Rule 10b-5 promulgated thereunder, on behalf of all persons or entities who purchased or otherwise acquired U.S.-issued debt securities of Volkswagen between May 23, 2014 and September 22, 2015, inclusive (the “Class Period”). The securities at issue (the “Offerings”) are listed in the chart below:
|CUSIP||ISIN||Coupon||Issue Date||Issue Amount||Maturity|
|928668AA0||US928668AA03||1.25%||May 23, 2014||$1.45 billion||May 23, 2017|
|928668AB8||US928668AB85||2.125%||May 23, 2014||$1 billion||May 23, 2019|
|928668AC6||US928668AC68||Floating||May 23, 2014||$500 million||May 23, 2017|
|928668AD4||US928668AD42||Floating||May 23, 2014||$250 million||May 23, 2016|
|928668AE2||US928668AE25||Floating||May 23, 2014||$300 million||Nov. 23, 2015|
|928668AF9||US928668AF99||1.60%||Nov. 20, 2014||$750 million||Nov. 20, 2017|
|928668AH5||US928668AH55||2.45 %||Nov. 20, 2014||$750 million||Nov. 20, 2019|
|928668AG7||US928668AG72||Floating||Nov. 20, 2014||$500 million||Nov. 20, 2017|
|928668AK8||US928668AK84||1.65%||May 22, 2015||$1 billion||May 22, 2018|
|928668AJ1||US928668AJ12||Floating||May 22, 2015||$750 million||Nov. 22, 2016|
|928668AL6||US928668AL67||Floating||May 22, 2015||$300 million||May 22, 2018|
|928668AM4||US928668AM41||2.40%||May 22, 2015||$750 million||May 22, 2020|
The Allegations Against Volkswagen
The Complaint alleges that during the Class Period, Defendants made false and misleading statements and concealed a scheme to defraud investors in the Offerings regarding the Company’s operations, its business and finances, and its outlook. Specifically, Defendants caused its Offerings to trade at artificially inflated prices by failing to disclose that Volkswagen utilized a “defeat device” in certain of its diesel cars that allowed such cars to temporarily reduce emissions during testing, while achieving higher performance and fuel economy, as well as discharging dramatically higher emissions, when testing was not being conducted. The Complaint alleges that Defendants made misrepresentations and omissions in its public statements as well as in its offering memoranda in connection with the issuance of over $8 billion of Offerings on May 23, 2014, November 20, 2014, and May 22, 2015. Through this series of revelations and Volkswagen’s admissions, the Offerings have declined from an average of 99.854% par value on September 18, 2015 to an average of 95.624% par value on September 22, 2015, representing a decline of over $300 million.
Volkswagen Bondholders Have Legal Options
If you suffered a loss from Volkswagen investments you have until August 22, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. Concerned shareholders who would like more information about their rights and potential remedies can contact attorney David P. Abel (202) 559-8591, firstname.lastname@example.org.
U.S. Market Advisors Law Group PLLC is a law firm based in Washington, D.C. The firm represents institutional investors from across the world in U.S. securities class action lawsuits.
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