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Volkswagen Prepping For Wave of Institutional Investor Lawsuits

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Since the U.S. Environmental Protection Agency (EPA) announced Volkswagen AG had used a “defeat device,” as defined by the U.S. Clean Air Act, in a portion of its diesel automobiles, the stock has taken a significant hit. Shareholder losses have been estimated at €40 billion. The legal liability appears to go back to 2009, adding to the legal woes of the automobile manufacturer. Furthermore, Volkswagen had marketed these diesel automobiles to environmentally-conscious consumers. These diesel vehicles are said to be emitting nitrous oxide up to 40 times what is allowable by U.S. federal law. Some of these diesel models include: Jetta, Beetle, Audi A3, Golf and Passat. Law firms are lining up to gather shareholders in what could be a massive lawsuit. Law firms such as Robbins Geller Rudman & Dowd LLP have announced class actions on behalf of investors against Volkswagen.

Multiple Fronts

Some law firms are also trying to represent the buyers of these vehicles. Law firms Kessler Topaz Meltzer & Check, LLP and Grant & Eisenhofer’s Consumer Protection and Products Liability Group are pursuing legal action against Volkswagen. In September, Seattle-based Keller Rohrback L.L.P. filed a class action lawsuit against Volkswagen Group of America, Inc. and Volkswagen AG on behalf of consumers who purchased Volkswagen vehicles tied to the diesel scandal.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Central Huijin Unit Eyes J&J Diabetes Business

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Sovereign wealth funds have increased their appetite for healthcare-related investments, according to a recent report issued by SWFI research. Johnson & Johnson (J&J), for a while, have been contemplating on possibly selling its diabetes care businesses. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Follow the Money – Episode 45

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This longer-than-normal episode covers a wide range of issues including such as sovereign wealth funds, bitcoin, cryptocurrencies, Indian real estate, ESG, investment exclusions, central banking and more.

EPISODE 45

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The views in this media are expressed by Michael Maduell and other participants and are not reflective of the Sovereign Wealth Fund Institute (SWFI).

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CalPERS Board Elects Priya Mathur as Board President

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The board of the California Public Employees’ Retirement System (CalPERS) elected Priya Mathur as board president. The current president Rob Feckner was named vice president of the board. Feckner previously served as board president and vice president.

Priya Mathur is serving her fourth term on the CalPERS Board of Administration. Mathur is a principal financial analyst for Bay Area Rapid Transit District (BART). Mathur represents public employees on the CalPERS Board, which she joined in 2002. She currently serves on four committees: Governance, Investment, Pension & Health Benefits, and Risk & Audit. She chairs the Pension & Health Benefits Committee and is vice chair of the Governance Committee.

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