Daimler Agree In Principle To Settle US Emissions Law Suits

Germany's Daimler AG, parent of Mercedes-Benz, and their US subsidiary agreed yesterday, Thursday 13 August, to in principle, settle US regulatory and civil class action law suits, in respect of the diesel emissions scandal.

As part of the US settlement Daimler is setting aside $1.5 billion dollars for the settlement with the US authorities, and $700 million for the US class action lawsuit. (The settlements are subject to the final approval of the relevant authorities and courts.)

Daimler said it was entering into settlement agreements: "after weighing all aspects [for what's] in the best interest of the company," adding "with the proposed settlements, the company takes an important step towards legal certainty with respect to various diesel proceedings in the United States."