Volkswagen and US Officials Reach Agreement in Emissions Scandal Case

— -- A California judge says Volkswagen and U.S. officials have reached an agreement to compensate the owners of nearly 480,000 vehicles discovered to have illegal software devices installed, which the company has said were designed to cheat emissions tests.

U.S. District Court Judge Charles Breyer did not offer many specifics, but the settlement includes the option for owners to have the automaker buy back their vehicles.

Breyer also said the agreement establishes funds to mediate excessive emissions and promote green energy.

Volkswagen owners and the U.S. Department of Justice filed suit against the automaker after it said in September that the goal was to evade emissions standards and sidestep federal regulations.

The Department of Justice told ABC News its investigation into Volkswagen's conduct is active and ongoing.

The full plan to compensate the owners and fix the vehicles will not be publicly disclosed until June.

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