Better Finance (the European Federation of Investors and Financial Services Users) and notable investor advocacy group DSW, based in Düsseldorf, Germany, recently joined the World Federation of Investors in support of the Stichting Volkswagen Investors Claim.
At its annual meeting in Milan last October, the World Federation of Investors (WFI) formally endorsed a program to enable investors in Volkswagen AG, Porsche AG and Audi AG securities to seek recovery for losses in the value of these securities resulting from the emissions fraud committed by Volkswagen.
Since the annual meeting, WFI has been a proactive advocate by informing, educating and facilitating individual investor participation in the Stichting Volkswagen Investors Claim, a nonprofit foundation established in the Netherlands to represent the interests of victims in seeking a resolution of claims against VW. The foundation's objective is to obtain relief for investors who have suffered investment losses as a result of the Volkswagen emissions fraud.
"This foundation is a unique opportunity for all VW investors," says Jella Benner-Heinacher, DSW's chief managing director. "It opens the door for them to pursue, at no cost, a settlement with VW." Founded in 1947, DSW has more than 30,000 members and is the leading shareholders' association in Germany.
Reflecting the broad international scope of the claims, the stichting has engaged counsel from the Netherlands (AKD), Austria (Breiteneder Rechtsanwälte Attorneys at Law) and the United States (Labaton Sucharow LLP), as well as attorneys from other European countries.
More information about Stichting Volkswagen Investors Claim is available on its website: https://www.stichtingvolkswagen-investorsclaim.com.