FRANKFURT - Volkswagen shrugged off a report on Saturday of a lawsuit against it by investment funds that accuse the carmaker of causing high losses by manipulating markets in 2008.
Business weekly WirtschaftsWoche reported that law firm CLLB is preparing a complaint by German investment funds against Volkswagen, and is likely to file a suit with the German regional court of Brunswick in September.
A Volkswagen spokesman said on Saturday the company had not seen a copy of the complaint, adding: "The allegations we know of so far -- of CLLB against Volkswagen -- are completely unsubstantiated."
The suit would be the first filed against Volkswagen in Germany relating to claims by investors they suffered billions in losses when Porsche effectively cornered the market in tradeable Volkswagen ordinary shares in 2008.
Business weekly WirtschaftsWoche reported that law firm CLLB is preparing a complaint by German investment funds against Volkswagen, and is likely to file a suit with the German regional court of Brunswick in September.
A Volkswagen spokesman said on Saturday the company had not seen a copy of the complaint, adding: "The allegations we know of so far -- of CLLB against Volkswagen -- are completely unsubstantiated."
The suit would be the first filed against Volkswagen in Germany relating to claims by investors they suffered billions in losses when Porsche effectively cornered the market in tradeable Volkswagen ordinary shares in 2008.
