A U.S. law firm is suing Mercedes-Benz owner Daimler, alleging the luxury automaker used cheat software to rig emissions values on 14 models of cars and SUVs that use the company’s BlueTEC low-emission diesel technology.
The suit filed Thursday in U.S. District Court in New Jersey alleges that Stuttgart-based Daimler employed similar software tricks as German rival Volkswagen to falsify results on diesel engines to trick U.S. regulators.
Daimler shares plunged up to 4 percent in Frankfurt and were trading down 1.8 percent at €63.53 at noon in Berlin. The automaker in a brief statement called the allegations “unfounded” and said it would fight the lawsuit.
”Investors are nervous when they learn of something like this,” said Sascha Gommel, analyst at Commerzbank in Frankfurt. “At VW, many investors were caught by surprise and hadn’t expected what happened. This is a protective measure so that they can’t be surprised again.”