San Francisco – On December 20, 2016, Judge Charles R. Breyer of the U.S. District Court for the Northern District of California announced that an agreement in principle had been reached to largely resolve class action litigation pending there against Bosch concerning Volkswagen, Audi, and Porsche diesel vehicles. The agreement is for the benefit of Robert Bosch GmbH and its affiliates, employees, and directors.
The agreement in principle is contingent upon reaching a definitive written agreement, which will not become effective until approved according to U.S. class action procedures by Judge Breyer, who conducts the nationwide multi-district proceedings in which numerous individual civil law actions have been combined.
The specific terms may not be disclosed until a definitive agreement is reached and presented to Judge Breyer.
Bosch was sued in its capacity as a supplier of electronic engine control units for the engines in question in the US proceedings. By joining the settlement process, Bosch neither acknowledges the facts as alleged by the plaintiffs nor does Bosch accept any liability.
Upon careful consideration of all relevant aspects in this case, Bosch decided to enter the agreement in principle announced by the judge today.
The agreement in principle concerns only private claims. As it has done since allegations were first made, Bosch will continue to cooperate comprehensively with the investigating authorities in Germany and in other countries.
The Bosch Group is a leading global supplier of technology and services. It employs roughly 375,000 associates worldwide (as of December 31, 2015). The company generated sales of 70.6 billion euros in 2015. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. The Bosch Group comprises Robert Bosch GmbH and its roughly 440 subsidiaries and regional companies in some 60 countries. Including sales and service partners, Bosch’s global manufacturing and sales network covers some 150 countries. The basis for the company’s future growth is its innovative strength. Bosch employs 55,800 associates in research and development at 118 locations across the globe. The Bosch Group’s strategic objective is to deliver innovations for a connected life. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is “Invented for life.”
The company was set up in Stuttgart in 1886 by Robert Bosch (1861-1942) as “Workshop for Precision Mechanics and Electrical Engineering.” The special ownership structure of Robert Bosch GmbH guarantees the entrepreneurial freedom of the Bosch Group, making it possible for the company to plan over the long term and to undertake significant up-front investments in the safeguarding of its future. Ninety-two percent of the share capital of Robert Bosch GmbH is held by Robert Bosch Stiftung GmbH, a charitable foundation. The majority of voting rights are held by Robert Bosch Industrietreuhand KG, an industrial trust. The entrepreneurial ownership functions are carried out by the trust. The remaining shares are held by the Bosch family and by Robert Bosch GmbH.