SEC charges Volkswagen, former CEO with defrauding investors - News Summed Up

SEC charges Volkswagen, former CEO with defrauding investors


WASHINGTON — U.S. regulators charged Volkswagen and former CEO Martin Winterkorn with defrauding investors during its massive diesel emissions scandal. In September 2015 Volkswagen installed software on more than 475,000 cars that enabled them to cheat on emissions tests, according to the Environmental Protection Agency. Volkswagen said Friday that the SEC is simply repeating unproven claims about Winterkorn. It has also pleaded guilty to criminal charges in the United States and several managers, including Winterkorn, were charged there. The surprise charges from the SEC arrive as the German company attempts to distance itself from the scandal.


Source: National Post March 15, 2019 11:48 UTC



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