Anexo Reaches Out-of-Court Agreement With VW Over Emissions Case
June 05 2023 - 10:16AM
Dow Jones News
By Anthony O. Goriainoff
Anexo Group said Monday it reached an agreement with Volkswagen
on behalf of the around 12,000 claimants it represents related to
the VW emissions case which will boost its cash by 7.2 million
pounds ($9 million).
The London-listed credit hire and legal services provider said
the agreement avoids the need for protracted litigation as well as
the considerable legal costs which both parties would have incurred
had the matter gone on to trial.
"Given the timing of the agreement, it will not have an impact
on the results for the year ended Dec. 31, 2022," the company
said.
Shares at 1437 GMT were up 4.50 pence, or 6.1%, at 78.50
pence.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
June 05, 2023 11:01 ET (15:01 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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