up Against the top management of the Volkswagen was for charges of market manipulation.
Update from the 20. May 2020: another procedure in the VW diesel scandal comes to a premature end: Volkswagen-chief Herbert Diess and Chairman of the Supervisory Board Hans Dieter Pötsch do not have to answer for alleged market manipulation in court. As the regional court of Braunschweig announced on Wednesday, has not been set, the procedure in return for a payment of 4.5 million euros, to the main hearing it is coming. The proceedings against the accused Ex-Chairman of the Board, Martin Winterkorn continues to run.
Volkswagen had previously announced plans to take over the payment of a total of nine million euros to the setting of the non-public procedure for This and Pötsch. According to the court, the money was already in the Land of lower Saxony. The judge agreed with the Prosecutor’s office in Braunschweig, as well as the two accused and their defenders on this solution.
The former VW CEO Martin Winterkorn, however, must for now continue to fear, to stand in Braunschweig because of market manipulation in court . The prosecution had raised in September of last year, a corresponding charge against the three managers and accused of the capital market to deliberately late, the diesel scandal at Volkswagen, informed and to have “unlawful influence on the market price of the company taken”.
The scandal was at 18. September 2015, became known. Winter grain was then VW group boss, This newly-minted head of the VW brand, Mr. Pötsch, chief financial officer. According to the indictment, This should behave at the end of July “full knowledge of the facts and the possible consequences for the company have had”, Pötsch even a month earlier. Volkswagen and the two managers had denied the allegations always.
charges against Volkswagen’s top because of market manipulation – VW responds
Update from 27. September 2019: of The VW group, the criminal holds a legal charge against the President of the leading Duo, even after the file review for the baseless. “The prosecution has no evidence, we don’t know,” said VW-criminal defense attorney Daniel Krause in Wolfsburg on Thursday. “We are further of the firm Belief that the company has met its capital market legal duties properly.”
The Prosecutor’s office in Braunschweig had on Tuesday charges against Chairman of the Supervisory Board Hans Dieter Pötsch and Chairman of the Board, Herbert Diess collected. You should have informed, according to the investigators, in their former functions as the group chief financial officer and Brand CEO investor “intentionally late” on the consequences of the diesel manipulation in the United States. Also Ex-CEO Martin Winterkorn is charged with. The price of the VW preference shares was known to the diesel fold affair within a few days by almost half.
“A Defeat Device of course is neutral,” said Krause, with a view to the use of the unlawful shut-off device in diesel engines in the United States. “What is Relevant for the capital market, the resulting economic consequences are”. This would occur with a high probability and a course of relevance for the stock need to have. This sun lounger for the Volkswagen AG at least 1.1 billion euros of damage.
The Board was up to 18. September 2015 assumed that the with the US authorities, talks would lead to an amicable solution, the economic consequences would be far less, according to VW. Only by the loud group “unexpectedly” released a so-called “Notice of Violation” by the US environmental protection Agency, EPA, have turned out to be incorrect.
charges against Volkswagen’s top because of market manipulation
Braunschweig – The public Prosecutor’s office in Braunschweig has accused the top management of Volkswagen because of market manipulation. Chairman of the Supervisory Board Hans Dieter Pötsch, Chairman of the Board, Herbert Diess, and the Ex-Chairman of the Board, Martin Winterkorn, is accused of investors in the year 2015, the time has not on the risks of diesel affair informed. The prosecutors stated on Tuesday.
investors require a compensation for the time the share price fall
The prosecutors had investigated whether the VW Manager given earlier than previously of the specific deceptions in the exhaust gas data in the United States knew. 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.”
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.
In the diesel affair, it has now come to an indictment. How do you see that? Join in and vote!
VW-diesel affair: managers are suspected of
Pötsch was chief financial officer of the 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.
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.
Fierce criticism of VW because of the commercials exposed to – this supports racist resentment.
dpa
