Cases
Volkswagen AG (Specific Bonds)
Securities Class Action
Overview
Overview
- Date:
- 6/21/2016
- Company Name:
- Volkswagen AG
- Stock Symbol:
- Specific Bonds
- Class Period:
- FROM 5/23/2014 TO 9/22/2015
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Northern California
NEW YORK, June 21, 2016 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of all persons or entities who acquired Volkswagen-issued bonds that were exempt from registration with the U.S. Securities and Exchange Commission under Rule 144A between May 23, 2014 and September 22, 2015 (the "Class Period").
According to the lawsuit, as a result of the defendants’ false and misleading statements and omissions, Volkswagen’s bonds traded at artificially inflated prices—some at highs over 100 percent of par value—during the class period, only to decline in value when the emissions scandal became public. This decline in value resulted in hundreds of millions of dollars in losses to bondholders.
The bonds at issue are the following:
CUSIP Coupon Issue Date Issue Amount Maturity
928668AA0 1.25% May 23, 2014 $1.45 billion May 23, 2017
928668AB8 2.125% May 23, 2014 $1 billion May 23, 2019
928668AC6 Floating May 23, 2014 $500 million May 23, 2017
928668AD4 Floating May 23, 2014 $250 million May 23, 2016
928668AE2 Floating May 23, 2014 $300 million Nov. 23, 2015
928668AF9 1.60% Nov. 20, 2014 $750 million Nov. 20, 2017
928668AH5 2.45 % Nov. 20, 2014 $750 million Nov. 20, 2019
928668AG7 Floating Nov. 20, 2014 $500 million Nov. 20, 2017
928668AK8 1.65% May 22, 2015 $1 billion May 22, 2018
928668AJ1 Floating May 22, 2015 $750 million Nov. 22, 2016
928668AL6 Floating May 22, 2015 $300 million May 22, 2018
928668AM4 2.40% May 22, 2015 $750 million May 22, 2020
If you acquired these Volkswagen bonds during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
According to the lawsuit, as a result of the defendants’ false and misleading statements and omissions, Volkswagen’s bonds traded at artificially inflated prices—some at highs over 100 percent of par value—during the class period, only to decline in value when the emissions scandal became public. This decline in value resulted in hundreds of millions of dollars in losses to bondholders.
The bonds at issue are the following:
CUSIP Coupon Issue Date Issue Amount Maturity
928668AA0 1.25% May 23, 2014 $1.45 billion May 23, 2017
928668AB8 2.125% May 23, 2014 $1 billion May 23, 2019
928668AC6 Floating May 23, 2014 $500 million May 23, 2017
928668AD4 Floating May 23, 2014 $250 million May 23, 2016
928668AE2 Floating May 23, 2014 $300 million Nov. 23, 2015
928668AF9 1.60% Nov. 20, 2014 $750 million Nov. 20, 2017
928668AH5 2.45 % Nov. 20, 2014 $750 million Nov. 20, 2019
928668AG7 Floating Nov. 20, 2014 $500 million Nov. 20, 2017
928668AK8 1.65% May 22, 2015 $1 billion May 22, 2018
928668AJ1 Floating May 22, 2015 $750 million Nov. 22, 2016
928668AL6 Floating May 22, 2015 $300 million May 22, 2018
928668AM4 2.40% May 22, 2015 $750 million May 22, 2020
If you acquired these Volkswagen bonds during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.