VW Dieselgate: Minority shareholders sue against D&O settlement

There is fierce legal resistance to the comparisons made by VW shareholders in the diesel scandal at this year's annual general meeting with former CEO Martin Winterkorn and ex-Audi boss Rupert Stadler, as well as the D&O insurers.

The family holding company Porsche SE, the state of Lower Saxony and the Emirate of Qatar, as the main shareholders, approved the settlement with the majority required by the German Stock Corporation Act. 

Militant minority shareholders are citing, among other things, a special audit that is still ongoing and want to overturn the resolutions of the general meeting by filing an action for rescission at the Hanover Regional Court. 

If necessary, the legal dispute goes as far as the Federal Court of Justice. In a guest article in the American specialist journal D&O Diary, Michael Hendricks and Burkhard Fassbach explain what the lawsuit is about and what effects the legal dispute will have on D&O claims settlement practice in Germany

Source: The D&O Diary