Bentham Europe Announces it is Coordinating a German Shareholder Action Against Volkswagen AG

London (ots/PRNewswire) -

Bentham Europe Limited ("Bentham") notes that since the recent
disclosures by Volkswagen AG ("Volkswagen"), its market
capitalisation has reduced by some EUR25 billion and investors have
seen the share price collapse from approximately EUR160 to EUR100.
As a result, Bentham confirms that it is in discussions with
institutional investors worldwide to fund a shareholder action in
Germany against Volkswagen, alleging breaches of the German
securities law over an eight year period from 2007 to 18 September
2015. The intention will be to instruct lawyers to commence the
necessary proceedings as soon as possible.

The actions, on behalf of shareholders who purchased shares in
Volkswagen on German exchanges, are proposed to be conducted in
Germany by a leading international commercial litigation law firm.
The actions will seek to establish that shareholders are entitled to
compensation for losses caused by Volkswagen's alleged breaches of
the German Securities Trading Act, based upon the Company's apparent
failure to inform the market, over a long period of time, about its
suspected practice of installing and using "defeat device" software
in a very significant number of vehicles it manufactured and sold
into the United States and other world car markets.

Volkswagen's alleged conduct has resulted in, amongst other
things, worldwide investigations including criminal investigations
commenced in Germany and the United States, the resignation of senior
company executives, and the prospect of a large scale and worldwide
vehicle recall.

All current and former shareholders who acquired at least 10,000
Volkswagen shares on a German exchange during the period 1 January
2007 to 18 September 2015 inclusive, and who had not sold all of
those securities prior to the market opening on Monday 21 September
2015, are invited to contact Bentham Europe so as to participate in a
proposed action.

The Chief Investment Officer of Bentham Europe, Jeremy Marshall,
said:

"The apparent secret use of defeat devices by Volkswagen and the
ensuing scandal that erupted upon disclosure of this practice has
caused significant harm to Volkswagen's reputation and financial
position as well as raising serious concerns as to the corporate
governance regime within one of Germany's blue chip companies.
Volkswagen shareholders are justifiably concerned that Volkswagen has
appeared to have allowed this practice to continue for what may have
been a number of years, in the assumed knowledge that its disclosure
to the market would be likely to cause them and their shareholders
significant financial harm. We expect a legal claim to reveal the
true extent of the problem and allow shareholders to seek
compensation for the undoubted harm that has been suffered."

Jeremy Marshall concluded:

"Shareholders - who saw billions wiped off the value of Volkswagen
in 2 days - deserve more than just an apology for what appears to be
long-running and concerted cheating of the system."

Notes to editors:

In order for the claims to proceed, a sufficient number of
shareholders will need to agree to be funded by Bentham Ventures who
will need to resolve to determine to fund the claim. Shareholders are
entitled to seek compensation or damages for losses caused by
Volkswagen's alleged breaches of the Securities Trading Act
(Germany).

More information about the proposed legal action is available at
http://www.benthameurope.com.

About Bentham Europe:

Bentham Europe represents a joint venture between IMF Bentham
Limited, a publicly listed company which funds litigation and
arbitration claims in Australia and other jurisdictions, and
subsidiary entities of funds managed by Elliott Management
Corporation, a US based advisory firm http://www.benthameurope.com/do
cs/default-source/default-document-library/co-funding-and-joint-ventu
re-arrangements.pdf?sfvrsn=2 .

Media contacts:

Jeremy Marshall
Chief Investment Officer
Phone: +44-203-750-1304
Email: jmarshall@benthameurope.com

Simon Dluzniak
Investment Manager, Bentham Europe
Phone: +44-203-750-1301
Email: sdluzniak@benthameurope.com

Gus Sellitto
Byfield Consultancy
Phone: +44-7581085577
Email: gus@byfieldconsultancy.com

Miriam Low
Byfield Consultancy
Phone: +44-7976192103
Email: miriam@byfieldconsultancy.com

ots Originaltext: Bentham Europe
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