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Volkswagen Group of America's wholly owned finance unit has agreed to pay $48.75 million to settle a lawsuit by the U.S. Securities and Exchange Commission (SEC). The lawsuit accused the German automaker, its subsidiaries, and former CEO Martin Winterkorn of defrauding investors in U.S. bond offerings through their actions related to the diesel emissions scandal. This settlement marks a significant development in the ongoing legal challenges faced by Volkswagen related to the emissions cheating scandal.
Volkswagen Group of America's finance unit agreed to pay 48.75 million to settle the SEC diesel case that accused Volkswagen AG, its two subsidiaries, and former chief executive Martin Winterkorn of defrauding investors https://t.co/z4JnQaW8sj https://t.co/eJAMPHIlyt
VW's US finance unit to pay $48.75 mln to resolve SEC diesel case https://t.co/XZZkHaVA7r https://t.co/dgKOcrQaJh
Volkswagen Group of America's wholly owned finance unit has agreed to pay $48.75 million to resolve a government lawsuit that accused the German automaker and its former CEO of defrauding investors in US bond offerings https://t.co/z4JnQaVACL https://t.co/alw9CWhXgL
