STAMFORD, CONN.--(Business Wire
) August 29, 2017 -- Claimants who did not previously register their claims against VW in Germany for losses in VW shares traded on Xetra Deutsche Börse (or otherwise commenced litigation) are urged to act now by contacting International Securities Associations and Foundations Management Company for Damaged VW Investors, LLC (ISAF VW) to preserve their standing with respect to the collective action at the Higher Regional Court in Braunschweig (KapMuG Proceeding). The deadline to register claims in the KapMuG Proceeding is September 8, 2017.
ISAF VW PROVIDES FUNDING AND ADMINISTRATION FOR CLAIMANTS
Eligible institutional investors who wish to register their claim in the KapMuG Proceeding can do so by providing eligible transaction data to ISAF VW for analysis and subsequently executing the ISAF VW Participation Agreement and related documentation. The court deadline to register claims is September 8, 2017. As Germany is an “opt-in” jurisdiction, only those litigating or registering their VW claims with the German court system by the deadline will have standing to assert their claim under a judgement or settlement resolution.
There are significant costs associated with registering an eligible claim in the KapMuG Proceeding. In return for a contingency fee (success only), ISAF VW will fund registrations of claims for institutional investors who purchased shares during the relevant period - June 6, 2008 through September 18, 2015 - and held them through September 18, 2015, when news of the emissions cheating scandal was revealed to the market.
It is important to note that ISAF VW is working closely with TILP Litigation Rechtsanwaltsgesellschaft mbH, the leading German law firm that represents Deka Investment GmbH, the model case lead plaintiff, in addition to hundreds of other institutional investors, in the KapMuG Proceeding. The representation of the ISAF VW coalition by TILP Litigation is critical; in order for additional registrations to be valid and recognized in the ongoing KapMuG Proceeding, it is a requirement that registrants accurately state the particulars of the existing claims under the KapMuG Proceeding.
ISAF VW will provide on behalf of eligible institutional investors all upfront, ongoing and future funding of the following: a) loss analysis and claims calculations, b) registration fees for the KapMuG Proceeding, (c) all legal and expert fees paid to TILP Litigation and any expert or professional consultants providing services to investors joining the ISAF VW coalition, and d) additional future litigation fees, defense bonds and adverse risk costs incurred in connection with enforcing any judgment or settlement resolution.
ISAF Management Company is an investor service organization exclusively focused on organizing efficient representation of institutional investors in securities and antitrust litigation outside of the United States, by way of providing efficient funding, administration and management of collective redress actions via group, shareholder associations or foundations in non-U.S. jurisdictions.
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