Judge Approves Massive $15 Billion Volkswagen Settlement

DAVID GRAY/REUTERS
DAVID GRAY/REUTERS

A federal judge on Tuesday authorized a $14.7 billion U.S. settlement in the Volkswagen emissions scandal. The deal, approved by Judge Charles Breyer of the U.S. District Court in San Francisco, comes nearly a year after Volkswagen admitted it had installed software in nearly 11 million vehicles with the intent of dodging federal emissions standards. As a result of the settlement with consumers, California regulators, and the U.S. government, nearly 475,000 Volkswagen owners will now have the option of either selling back their car or receiving a free fix plus compensation. The company still faces criminal probes by both the U.S. Justice Department and German prosecutors, with additional fines and criminal charges possible down the line.

READ IT AT USA TODAY>

SOURCE: The Daily Beast Cheat Sheet