October 2016: Judge Approves $14.7 Billion Volkswagen Deal
Here's a slideshow depicting the major U.S. news events of October 2016.
1. Police Kill Black Man in L.A. 2. FBI Announces Arrest of NSA Spy 3. FCC Fines Comcast 4. Arson Causes $2 Million in Damage to Dakota Access Pipeline 5. School Shooting in San Francisco 6. Hackers Cause Internet Blackout 7. AT&T Offers to Buy Time Warner 8. Chicago Cubs Are National League Champs 9. U.S. Judge Approves Volkswagen Deal 10. Dakota Access Pipeline: 141 Arrested 11. Oklahoma Fugitive Killed in Shootout with Police
- Judge Approves $14.7 Billion Volkswagen Deal
- On Oct. 25, 2016, a U.S. judge approves one of the biggest corporate settlements of all time. In Sept. 2015, it was discovered that Volkswagen, the German car company, had installed devices into their vehicles that falsified data about diesel emissions. The device made the cars seem more eco-friendly than they actually were; the cars were actually emitting more than 40 times the legal amount. The $14.7 billion settlement stipulates that owners will receive the original trade-in value of their vehicle, plus an additional $5,100 to $10,000; this comes at a cost of $10.033 billion for VW; the remaining $4.7 billion will be spent on emissions offset and clean-vehicle programs.
- Photo source: AP Photo/Paul Sancya, File