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Volkswagen emission scandal: Board hires law firm to advise on liabilities

Earlier this month, VW postponed the publication of its 2015 results and delayed an annual shareholders' meeting due to the difficulties it was having to put an exact price on the scandal.

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Earlier this month, VW postponed the publication of its 2015 results and delayed an annual shareholders' meeting due to the difficulties it was having to put an exact price on the scandal.
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Volkswagen's top committee has hired a German law firm to advise it on the liabilities the carmaker could face as a result of its cheating of diesel emissions tests.

Europe's biggest automaker admitted in September to rigging US diesel emissions tests and shortly afterwards appointed US law firm Jones Day to investigate those responsible for the biggest corporate scandal in its history.

The German company said earlier this month that Jones Day would publish its findings in the second half of April. The new law firm will look at those findings and advise on the liabilities Volkswagen (VW) could face under corporate law, a spokesman said on Thursday, declining to name the law firm.

ALSO READ: Volkswagen emission scandal: Carmaker faces huge US lawsuit over pollution cheating

Earlier this month, VW postponed the publication of its 2015 results and delayed an annual shareholders' meeting due to the difficulties it was having to put an exact price on the scandal. The supervisory board's executive committee approved a recommendation by its task force to seek the extra legal advice, the spokesman said.

"VW will ruthlessly clarify the matter in its entirety," he said. "Everything will be put on the table, nothing will be swept under the carpet. The internal and external specialists tasked with this are investigating regardless of who the individuals involved are and without taboos."

German news agency DPA reported VW's recruitment of the law firm earlier on Thursday. VW set aside 6.7 billion euros ($7.4 billion) in the third quarter of 2015 to cover repair costs for up to 11 million vehicles worldwide that could be fitted with illegal software. Analysts estimate it could have to pay out billions more due to regulatory fines and lawsuits.

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