Diesel emissions scandal: US SEC sues Volkswagen AG, former CEO Winterkorn
- Country:
- Germany
- United States
The U.S. Securities and Exchange Commission sued Volkswagen AG and its former chief executive Martin Winterkorn over the German automaker's diesel emissions scandal, accusing the company of perpetrating a "massive fraud" on U.S. investors.
The suit seeks to bar Winterkorn from serving as an officer or director of a public U.S. company and recover "ill-gotten gains". Winterkorn was charged by U.S. prosecutors in 2018 and accused of conspiring to cover up the German automaker’s diesel emissions cheating.
Volkswagen said the SEC complaint "is legally and factually flawed, and Volkswagen will contest it vigorously. The SEC has brought an unprecedented complaint over securities sold only to sophisticated investors who were not harmed and received all payments of interest and principal in full and on time."
(With inputs from agencies.)
- READ MORE ON:
- This Is Us
- Two Of Us
- Us Weekly
- The Pizza Company
- Noodles & Company
- Kjell & Company
- German cockroach
- German cuisine
- German Shepherd
- Program director
- Athletic director
- Art Director
- Police officer
- Military Officer
- Chief Information Officer
- Institutional investor
- Angel investor
- Investors Bank
- Volkswagen AG
- Martin Winterkorn
ALSO READ
No senior IAS officer being posted in Delhi, bureaucrats have stopped attending govt meetings citing MCC: AAP leader Atishi.
Australian prosecutors drop billionaire Forrest's case against Meta
FOREX-Euro crumbles as investors eye ECB rate cuts, yen hits new 34-year low
Australian prosecutors drop billionaire Forrest's case against Meta
Suspected Bengaluru cafe bomber arrested by India's anti-terror agency, officer says
Google News