VW lawsuit reaches $2.1B settlement

Members of a Canadian class-action lawsuit against Volkswagen can submit claims for reimbursement starting on Friday after an Ontario court approved a $2.1-billion settlement plan.

The 105,000 people who purchased or leased Volkswagen or Audi vehicles with diesel engines that were caught up in an emissions cheating scandal will each receive a payment between $5,100 and $8,000, wrote Superior Court Justice Edward Belobaba in his judgment Wednesday.

Many will also have the choice either to return their vehicle at the buyback price as of mid-September 2015 or keep their car and receive an emissions modification that is approved by government regulators, he wrote.