A U.S. judge on Wednesday denied Volkswagen AG and its former chief executive Martin Winterkorn’s requests to have an investor lawsuit dismissed in California over its “Dieselgate” emissions scandal. In a 41-page ruling, U.S. District Judge Charles Breyer also rejected a request by VW brand chief Herbert Diess to have the proposed securities fraud lawsuits tossed out of a California court.
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The investors suing are mostly U.S. municipal pension funds that invested in VW through American Depositary Receipts. Volkswagen argued that German courts were the proper place for investor lawsuits.