SAN DIEGO, April 27, 2021 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit against Daimler AG in connection with its connection to the diesel emissions-cheating scandal has been settled. The settlement brings an end to an enforcement action against Daimler AG that was brought by the U.S. Department of Justice, the Environmental Protection Agency, and the California Air Resources Board.
Investors, who purchased shares of Daimler AG (DDAIF, DMLRY) and continue to hold any of those Daimler AG (DDAIF, DMLRY) shares, have also certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
In August 2020 it was announced that Daimler AG and its subsidiary Mercedes-Benz USA LLC reached an agreement in principle with U.S. authorities to settle civil and environmental claims regarding emission control systems of approx. 250,000 passenger cars and sprinter vans equipped with diesel engines that were sold in the U.S between 2009 and 2016.
In March 2021, the judge in the case gave final approval to the settlement that will cost Daimler AG approximately $1.5 billion, including $875 million in civil penalties. Daimler AG also agreed to extend the warranty period for certain parts in the repaired vehicles, perform projects to mitigate excess ozone-creating nitrogen oxides emitted from the vehicles, and implement new internal audit procedures designed to prevent future emissions cheating. The recall and repair program and federal mitigation project are expected to cost Daimler AG over $400 million.
Investors, who purchased shares of Daimler AG (DDAIF, DMLRY), should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.