U.S. SEC sues Volkswagen, ex-CEO over alleged emissions fraud on investors | Reuters


The U.S. Securities and Exchange Commission (SEC) is suing Volkswagen (VW) and its former chief executive Martin Winterkorn over the German automaker’s diesel emissions scandal, alleging a “massive fraud” on U.S. investors.

VW was caught using illegal software to cheat U.S. pollution tests in 2015, triggering a global backlash against diesel that and has so far cost it 29 billion euros (£24.78 billion).

Source: U.S. SEC sues Volkswagen, ex-CEO over alleged emissions fraud on investors | Reuters

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