Last Tuesday, Attorney General Eric Schneiderman announced that the state has agreed to a settlement with the federal government and Volkswagen (VW) relating to Volkswagen’s violations of emissions standards and state consumer protection laws.

Under the settlement agreement, which must still be approved by a federal judge, owners of certain VW diesel cars in New York will be entitled to be paid the fair market value of their vehicle before the companies emissions cheating became known, as well as a payment of at least $5,100. VW owners may also choose to keep their vehicles, but will have to get them fixed if they do so.

The settlement will also provide $115 million to New York State for environmental projects to improve the state’s air quality, and $30 million for the state’s general fund.  The state will also continue its investigation into the scope of the company’s illegal conduct and potential liability for environmental penalties.

Attorney General Schneiderman said:

“These partial settlements announced today exact a stiff price from Volkswagen for its deception of consumers and the environmental damage it has caused in New York and across the country.  But make no mistake:  we will continue to investigate and pursue Volkswagen for its violation of our environmental laws, and we will seek the imposition of additional penalties in amounts sufficient to ensure that Volkswagen and any other car manufacturer complies with the standards required of them.”