German Prosecutors File Suit Against Volkswagen CEO, Others
September 24 2019 - 6:55AM
Dow Jones News
By Max Bernhard
German public prosecutors on Tuesday brought charges against
Volkswagen AG (VOW.XE) Chief Executive Herbert Diess, as well as
the car maker's chairman and a former executive, alleging market
manipulation in its emissions scandal.
Mr. Diess, as well as Volkswagen's former CEO Martin Winterkorn
and Supervisory Board Chairman Hans Dieter Poetsch "are accused of
deliberately informing the capital market too late about the
group's substantial payment obligations in the billions resulting
from the discovery of the so-called 'diesel scandal'," the
Braunschweig public prosecutor said in a statement.
Volkswagen admitted in 2015 to having rigged some 11 million of
its diesel vehicles globally with software that allowed them to
dodge government emissions tests. The company's share price
plummeted in the days after the diesel emissions scandal
erupted.
Write to Max Bernhard at max.bernhard@dowjones.com
(END) Dow Jones Newswires
September 24, 2019 06:40 ET (10:40 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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