"Judge Approves $1.2 Billion Volkswagen Settlement"

"A federal judge has approved a settlement between Volkswagen and its customers that will see the automaker pay at least $1.22 billion to repair or buy back 3.0-liter diesel vehicles as part of the company’s emissions-cheating scandal.

U.S. District Judge Charles Breyer approved the settlement at a hearing in San Francisco on Thursday, Reuters reports. Breyer also approved a settlement involving Robert Bosch GmbH in which the German firm will pay $327.5 million to American VW owners for its role in developing the engines at the center of the emissions cheating.

Under the terms of the settlement, VW will be required to modify or buy back up to 80,000 3.0-liter vehicles sold in the U.S. that were equipped with “defeat device” software that turned off required emissions controls within the vehicles."

Devin Henry reports for The Hill May 11, 2017.

Source: The Hill, 05/12/2017