Currently there is no need for any action, also not to enter into such agreements. No German opt-in class action is pending. The six months period for opting-in hasn’t even started. We recommend to join the foundation, as we will monitor the situation for you closely and free of charge.
International commercial litigation funders are currently approaching VW-investors to enter into funding and assignment of claim contracts. For joining the foundation no contract is required. Also it is possible from the perspective of the foundation to join the foundation and in parallel enter into an agreement with a commercial litigation funder. However this may be subject to approval of the commercial litigation funder. In the event the claim has been assigned to the litigation funder, the registration is of course – in absence of a claim – no longer possible.
As far as known there is currently no German opt-in class action (KapMuG) pending. We recommend being cautious before entering into such a commercial funding agreement as the deduction from the recovery for the funder can be substantial and has to be paid in any event even if the approach of the funder is not successful. Most notably the funder receives his fee even in the event Volkswagen pays voluntarily.
The foundation will monitor the situation in Germany closely and will – in the event a German opt-in class action (KapMuG) is opened - inform all individuals and entities who joined the foundation.
The intention is that as soon as the opt-in class action is pending in Germany, a free of charge venue through German counsel for joining the litigation for interruption of the prescription period purposes will be offered by the foundation to individuals who already joined. Joining and being registered with the foundation will always be free of charge. Only in case of a settlement the funder of the foundation will receive a deduction from the total recovery of less than 20% only in the event that the defendant is not paying for the costs of the foundation and the premium for the funder anyway.
We guarantee that anyone who joined the foundation will be informed in due time to join any German opt-in class action. Currently there is no risk of missing any dead line connected to such proceeding.