$300 Million Fees For U.S. Lawyers Who Sued Volkswagen
A federal judge on Friday approved $125 million in fees and costs over $175 million for lawyers who sued Volkswagen AG on behalf of U.S. owners of 88,000 diesel vehicles.
Volkswagen logo. Image used for representational purpose. (Photo: Reuters)
A federal judge on Friday approved $125 million in fees and costs for lawyers who sued Volkswagen AG on behalf of U.S. owners of 88,000 3.0 litre diesel vehicles over excess emissions.
That is on top of $175 million in fees and costs approved by U.S. District Judge Charles Breyer in March for a related 2.0-liter VW diesel settlement covering nearly 500,000 owners.
In the 3.0-liter settlement approved on Friday, Breyer said lawyers were billing an average of $462 an hour for all work performed and expected during the settlement. He said billing rates for partners were from $250 to $1,650 per hour.
Breyer said lawyers for the owners "achieved extraordinary results" and cited the generous buyback and compensation offers as well as separate funds to offset excess emissions.
In total, the world's largest automaker has agreed to spend up to $25 billion in the United States to address claims from owners, environmental regulators, states and dealers and offered to buy back about 500,000 polluting U.S. vehicles.
Of the $300 million approved in both cases, $288 million is for legal fees and $12 million is for reimbursable expenses.
Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.
Recommended For You
- Airtel V-Fiber Broadband: 1Gbps Speed, 1000GB Free Data And Plans From Rs 799
- Madhuri Dixit's Brush with Rappers Wiz Khalifa, Raja Kumari at Mumbai Concert
- UK Clothing Brand Trolled for Trying to Sell Indian-Style Kurta as 'Vintage Boho Dress'
- Internet Sensation Ranu Mondal Speaks Out on Lata Mangeshkar's 'Imitation' Comment
- Mi TV Netflix Support to Finally Roll Out on September 17, Suggests Teaser