No 9th Circ. Rehearsal in VW bondholder issuance trial

By Mike Curley (September 23, 2021, 4:05 p.m. EDT) – The Ninth Circuit said on Thursday it would not grant a rehearing of a lawsuit alleging Volkswagen AG misled bondholders by buying overvalued bonds while hiding the existence of devices intended to cheat emissions tests.

In a brief order, the circuit court wrote that circuit judge Milan Smith and senior judge Jane A. Restani of the US Tribunal of International Trade had voted against a new bench hearing, while circuit judge J. Clifford Wallace, who disagreed with the majority’s prior opinion, voted in favor of the request for a rehearing.

The ruling means the circuit panel’s 2-1 decision in June will stand. In this…

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