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The plaintiffs are demanding almost 250 million euros in damages in one proceeding alone, and in three others the claims add up to around 100 million euros, as the Stuttgart Regional Court confirmed on request. There are various funds behind the lawsuits. There are also a number of other new procedures, but these involve lower amounts.
Overall, Daimler investors are now demanding more than one billion euros in damages from the car manufacturer in various proceedings at the Stuttgart Regional Court.
In essence – as with the numerous lawsuits against the VW Group and its parent company Porsche SE – the allegation that the markets were informed too late about the financial consequences of the diesel affair. As a result, the Daimler shares that investors bought were far too expensive at the time. Daimler rejects the allegations. “We consider the lawsuits to be unfounded and will defend ourselves against the allegations with all legal means,” said a spokesman.
In order to be able to deal with the large number of cases, the Stuttgart court set up two special chambers at the beginning of the year, which deal with Daimler, VW and PSE cases.
Daimler also rejects the accusation of the authorities that they used an illegal exhaust technology in the diesel vehicles from Mercedes-Benz. However, the car manufacturer says it is cooperating with the authorities and installing a software update on hundreds of thousands of vehicles. The callbacks and various procedures have already cost the company billions. At the end of October, the Federal Court of Justice wants to deal with a Daimler case for the first time. But it is about compensation for car owners, not investors.
In a dispute with investors in the United States who filed a class action lawsuit, the parties have now reached a settlement. It stipulates that Daimler will pay $ 19 million (16 million euros) to resolve the dispute.
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