At 9am, October 25, 2016 Judge Breyer in San Francisco made a final ruling for 2.0L Volkswagen TDI customers. The $14.7 billion dollar settlement had been approved and buy backs will start taking place the beginning to the middle of November.
After a 3 hour hearing on October, 18th the Judge had asked for an extra week to take into consideration some of the objections.
Volkswagen agreed to make up to $1.21 billion in payments to 652 U.S. VW brand dealers and $600 million to 44 U.S. states to address some state claims.
To date, nearly 340,000 owners have registered to take part in the settlement, and only about 3,500 owners have opted out. Volkswagen must fix or buy back 85 percent of the 475,000 vehicles under the agreement within two years or face additional costs.
November 3rd, 2016 will be the next hearing for the 3.0L VW TDI’s. Make sure that you are registered at vwcourtsettlement.com. We will keep you updated on all news regarding the Volkswagen Settlement and buy backs.
Nathan Bomey, reporter for USA Today, had a great twitter feed updating on the ruling today:
Patrick McGee, correspondant from the Financial Times, also kept his feed current with Judge Breyer’s ruling: