Volkswagen’s American finance division has agreed to pay $48.75 million to settle a lawsuit by the Securities and Exchange Commission (SEC) over alleged fraud related to diesel emissions. The lawsuit accused Volkswagen AG and its former CEO of deceiving investors in U.S. bond offerings. Although the SEC is dropping claims against Volkswagen AG and its former CEO, the settlement with Volkswagen Group of America Finance concludes significant legal action stemming from the diesel emissions scandal in the United States. This scandal cost Volkswagen over $20 billion in fines and settlements after it was revealed that the company had installed “defeat devices” and sophisticated software to cheat emissions tests.
🔴
Trending
- Arm might be about to make a significant strategy change that would put it in competition with its clients.
- 20 stocks of businesses that have performed exceptionally well this earnings season, including one unexpected
- Trump tariffs are more “bark than bite,” according to a stock market boom. Beware, investors.
- Decline in retail sales. Spending is discouraged by wildfires, chilly snaps, and post-holiday blues.
- This year, European markets have outperformed Wall Street despite concerns over tariffs. UBS believes that will continue for the following reasons.
- Are you considering not filing your taxes? This is the possible cost.
- This expert discusses why Elon Musk is a problem as Tesla’s stock declines once more.
- For everyone, BYD is providing a self-driving feature. That might cause problems for Tesla.