A U.S. judge has given final approval for a 14.7 billion dollar class action settlement in Volkswagen's emissions cheating scandal.
It marks the largest such automaker settlement in history, and offers compensation to nearly a half-million owners of VW and Audi diesel-powered vehicles in the U.S., which were configured to deceive emissions tests.
Owners of 2.0 liter diesel-powered cars will receive cash payments and be eligible for buybacks, penalty-free lease terminations or free modifications to fix the vehicles' emissions.
District Judge Charles Breyer said the settlement adequately and fairly compensates class members and reduces prolonged litigation and further environmental damage.
As part of the deal, Volkswagen will create a 2.7 billion dollar fund for environmental works, and provide 2 billion to promote the use of "zero emissions" vehicles within the States.■
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