Nordea is the largest asset manager from the Nordic countries. 'Given how deep and rife this scandal is, we want to evaluate both European and US class actions in order to [find the best options for us],' said Sasja Beslik, head of responsible investments at Nordea’s fund arm. Investors have lost billions after Volkswagen shares fell 40 per cent after the scandal emerged in September.
Cases being prepared
Clive Zietman is head of commercial litigation at Stewarts Law and has confirmed that asset managers have been contacting it about possible claims. David Seidel, chief executive of the Institutional Investors Tort Recovery Association, says that UK law firms are now preparing cases against VW. His organisation helps institutions to decide which class actions are the best to join. Source: Financial Times
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