Prosecutor’s office brings charges against VW-tip

The Prosecutor’s office in Braunschweig has accused former and incumbent executives of Volkswagen. They are accused of, to have investors in 2015, not in a timely manner on the risks of diesel affair informed.

Accused “after extensive investigation” would the former VW boss Martin Winterkorn, the current chief Herbert Diess and Chairman of the Supervisory Board Hans Dieter Pötsch, informed the Prosecutor’s office. You’ll be accused of the capital market too late, the diesel scandal informed and to have “unlawful influence on the market price of the company taken”.

Prosecutor: VW-top-of-the-informed, intentionally too late

The prosecutors had investigated whether VW managers knew sooner than before granted by particular deceptions in the exhaust gas data in the United States. According to the investigation this was the case. In the message it said: “The above former or incumbent members of the management Board of Volkswagen AG, is accused of having, contrary to its statutory duty to the capital market with intent to be late on from the Reveal of the so-called Diesel-scandal resulting in significant payment obligations of the group in billions of informed and, therefore, illegal influence on the market price of the company is taken.”

Also the current VW Chairman of the Board, Herbert Diess is accused of market maipulation

Pötsch, CFO of Volkswagen group, as the then chief Executive, Martin Winterkorn exhaust tampering with the engines of diesel cars in the United States admitted. The extent of the scandal was then clear: millions of vehicles worldwide were affected, many owners of the VW shares had to accept losses. The current Chairman of the Board, This came in the summer of 2015 in the group and at first was only the head of the Volkswagen-core brand.

Investors sue for compensation

Investors require a compensation for the then slump in the share price: they argue that the VW-tip to put the financial world in the past, of the risks of the diesel crisis would have to the image. This is also a capital market-model procedure in Braunschweig.

VW had to admit to examinations by U.S. environmental authorities and researchers to have the exhaust Software of certain diesel engines set so that in actual operation on the road significantly more toxic nitrogen oxides (NOx) have been cast as in the tests for Harmful substances. 18. September 2015, the manipulations were known to the Manager suspected, in spite of possible evidence to be a long time before this date, not on the impending financial risks.


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