Report: Volkswagen to Pay $175M to Vehicle Owners

Volkswagen AG has agreed to pay $175 million to U.S. lawyers suing the German automaker on behalf of 475,000 polluting vehicle owners, two people briefed on the agreement said Friday.

In August, lawyers representing the owners sought up to $332.5 million in fees and costs for their work in a $10 billion settlement. The latest costs means VW has agreed to spend up to $16.7 billion to compensate U.S. owners and address claims from states, federal regulators and dealers.

(Reporting by David Shepardson)