VW Loses Top Court Case Over Diesel Deal With Ex-CEO (1)

Volkswagen AG lost an appeals case in Germany’s highest civil court over the shareholders’ approval of a settlement with former Chief Executive Officer Martin Winterkorn over his role in the diesel-emissions scandal that cost the company more than €30 billion ($35 billion).

The approval of the 2021 pact may be void because VW hadn’t allowed shareholders to ask questions about the assets of Winterkorn and ex-board member Rupert Stadler, the Federal Court of Justice in Karlsruhe ruled on Tuesday, sending that part of the case back to a lower court. Under the agreement, Winterkorn had to pay €11.2 million and ...