05/07/2019 (Agence Europe) – The European Federation of Savers and Users of Financial Services (BETTER FINANCE) and the World Federation of Investors (WFI) expressed their support on Friday 5 July for the initiative of the Volkswagen Investors Claim foundation to negotiate an agreement to compensate Volkswagen shareholders for the financial losses incurred as a result of the dieselgate. As similar compensation agreements have already been concluded for $30 billion in the United States, the foundation claims that the Volkswagen Group treats European securityholders and investors unfairly. The conciliation model from Dutch law would be “the ideal instrument in Europe to achieve a balanced outcome through negotiation”, according to both organisations. This mechanism recalls the provisions of the draft directive on collective redress in the EU, on which only the European Parliament has adopted a negotiating position (see EUROPE 12154/4). (MM – intern)