Burford Capital backs lawsuit against Volkswagen

2nd Dec 2015 09:11

(ShareCast News) - Burford Capital has announced it is giving additional funding to law firm Hausfeld to take on Volkswagen AG after the emissions scandal.In September, the German car giant admitted it installed "defeat devices" in millions of diesel vehicles around the world.The devices would detect when the car was being tested for emissions and adjust the its operation to comply with emissions standards.The announcement came after Burford made €30m (£21.1m) in financing available to Hausfeld for its clients' German competition and other commercial claims in November.The company said on Wednesday that the law firm will bring its expertise "to bear on the multifaceted global disputes pending" as a result of the scandal."Hausfeld is ideally suited to play a lead role in this process, given the firm's recognition as one of the world's 50 leading negotiators and successes in commercial litigation across multiple jurisdictions," the statement said.Burford said it will provide additional financing to support representation of those harmed by VW's misconduct.