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LONDON (Alliance News) - Finance and professional services company Burford Capital PLC on Wednesday said Hausfeld, a German law firm it backs, is to pursue claims against German auto giant Volkswagen AG related to its emissions scandal.
Burford will provide financing to Hausfeld as it seeks to gain compensation for clients from the emissions scandal involving Volkswagen, in which the car company has admitted to installing "defeat devices" in its diesel cars in order to ensure they pass emissions tests.
Hausfeld will pursue claims on behalf of companies hurt by the misconduct, and Burford will finance its efforts, it said.
"Burford has unparalleled expertise in financing complex commercial litigation, and we're proud to support Hausfeld in this effort. We're well positioned to work with Hausfeld, and we remain committed to ongoing innovation in the field of litigation finance," said Burford Chief Executive Christopher Bogart.
Shares in Burford were up 2.4% to 191.50 pence on Wednesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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