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SEC Sues Volkswagen for Concealing Its Diesel Emissions Cheating from Investors

SEC Sues Volkswagen for Concealing Its Diesel Emissions Cheating from Investors

March 15, 2019

Via: Fortune
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Volkswagen AG was sued by the U.S. Securities and Exchange Commission over claims it failed to disclose to investors that its diesel vehicles violated emission standards, the latest twist in a software cheating scandal that has already cost the company more than $30 billion.

The German automaker sold billions of dollars of corporate bonds and asset-backed securities in the U.S. from 2010 to 2015 while concealing its emissions-cheating scheme, according to the complaint filed by the regulator late Thursday in San Francisco federal court. The case could give fresh impetus to similar efforts for redress from European investors.

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