Volkswagen emissions scandal settlement deal clears key hurdle in US

&Tab;&Tab;<div class&equals;"wpcnt">&NewLine;&Tab;&Tab;&Tab;<div class&equals;"wpa">&NewLine;&Tab;&Tab;&Tab;&Tab;<span class&equals;"wpa-about">Advertisements<&sol;span>&NewLine;&Tab;&Tab;&Tab;&Tab;<div class&equals;"u top&lowbar;amp">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;<amp-ad width&equals;"300" height&equals;"265"&NewLine;&Tab;&Tab; type&equals;"pubmine"&NewLine;&Tab;&Tab; data-siteid&equals;"111265417"&NewLine;&Tab;&Tab; data-section&equals;"1">&NewLine;&Tab;&Tab;<&sol;amp-ad>&NewLine;&Tab;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;<&sol;div><p>A &dollar;15 bn settlement over Volkswagen&&num;8217&semi;s emissions cheating scandal has cleared a key hurdle&comma; with a federal judge giving preliminary approval to a deal that includes an option for owners to have the carmaker buy back their vehicles&period;<&sol;p>&NewLine;<p>Lawyers for Volkswagen owners sought approval from US District Court Judge Charles Breyer&comma; who is overseeing consumer lawsuits and government allegations that the company&&num;8217&semi;s diesel engines cheated on US emissions tests&period;<&sol;p>&NewLine;<p>The terms call for the German carmaker to spend up to &dollar;10 bn buying back or repairing about 475&comma;000 Volkswagens and Audi vehicles with 2-litre diesel engines and paying their owners an additional &dollar;5&comma;100 to &dollar;10&comma;000 each&period; Details about the vehicle repairs have not been finalised&period;<&sol;p>&NewLine;<p>The judge&&num;8217&semi;s decision allows lawyers to notify vehicle owners of the terms&comma; including using a settlement website to determine how much compensation they would get&period; The owners could object and opt out&comma; allowing them to pursue legal action against Volkswagen on their own&period;<&sol;p>&NewLine;<p>Judge Breyer&comma; who is expected to make a final decision in October&comma; has kept close tabs on the negotiations and praised the efforts of lawyers and a court-appointed settlement master who helped broker the deal&period;<&sol;p>&NewLine;<p>&&num;8220&semi;I don&&num;8217&semi;t know that I need to make any grand observations about the settlement&comma;&&num;8221&semi; he said&period; &&num;8220&semi;It appears in your presentation today as it appeared when you filed your documents that an enormous effort has been devoted to achieving a series of goals&period;&&num;8221&semi;<&sol;p>&NewLine;<p>The settlement also includes &dollar;2&period;7 bn for unspecified environmental mitigation and an additional &dollar;2 bn to promote zero-emissions vehicles&period; It does not cover about 85&comma;000 more powerful Volkswagens and Audis with 3-litre engines also caught up in the emissions scandal&period;<&sol;p>&NewLine;<p>Volkswagen has acknowledged that the cars were programmed to turn on emissions controls during government lab tests and turn them off while on the road&period; Investigators found that the cars emitted more than 40 times the legal limit of nitrogen oxide&comma; which can cause respiratory problems&period;<&sol;p>&NewLine;<p>The company still faces billions more dollars in fines and penalties and possible criminal charges&period;<&sol;p>&NewLine;&Tab;&Tab;&Tab;<div style&equals;"padding-bottom&colon;15px&semi;" class&equals;"wordads-tag" data-slot-type&equals;"belowpost">&NewLine;&Tab;&Tab;&Tab;&Tab;<div id&equals;"atatags-dynamic-belowpost-68ed1204ec9b6">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;<script type&equals;"text&sol;javascript">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;getAdSnippetCallback &equals; function &lpar;&rpar; 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