Attention, cheater-diesel Volkswagen (and Audi) owners: The compensation payouts are gearing up. That’s the clear implication from the recent announcement that Volkswagen has retained the services of Kenneth R. Feinberg’s legal firm. Feinberg is “to design and administer an independent claims-resolution program to address claims related to the 2.0L and 3.0L TDI vehicles affected by the emissions compliance issue.”
Feinberg’s name may sound familiar. The man has become something of a standout in the legal field as the Compensation King, having determined the payouts to the families of the victims of the 9/11 terrorist attacks; to the claimants who suffered economic damage from the BP Gulf of Mexico oil spill; to the victims of the shootings at Virginia Tech and Aurora, Colorado; and more recently to those injured or killed in crashes caused by faulty GM ignition switches.
Feinberg, obviously, has been a busy guy, and he is about to get even busier. In VW’s press release, Mr. Feinberg is quoted as saying that he is “going to commence work immediately,” with the goal being “to have a claims program designed as expeditiously as possible.”
Clearly, VW is readying compensation offers to owners of its emissions-cheating diesels. In so doing, it no doubt is hoping to head off the spate of lawsuits that already have been announced seeking redress for those owners, whose cars have suffered a drop in resale value and may offer worse fuel economy and performance once fixes are made, and who may just be pissed that their Clean Diesels are anything but. The company already has offered $500 Visa gift cards and between $500 and $750 worth of Volkswagen service or merchandise to affected owners, but evidently there’s more to come.
What form VW’s compensation offer or offers will take remains to be seen, and is no doubt a central focus of the work Mr. Feinberg and his associates are undertaking. How many owners decide to accept those offers, and how many decide to try their luck with lawsuits, is something we probably won’t know for some time.
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