Volkswagen (SEC) is suing The US Securities and Exchange Commission and its former CEO, Martin Winterkorn, for perpetrating fraud against investors amid the so-called dieselgate scandal. The regulator claims the company misled investors in order to achieve financial advantage, when it issued bonds and asset-backed securities despite the knowledge that over 500,000 of its diesel vehicles exceeded legal emissions caps. The US Securities and Exchange Commission has described the SEC’s case as being without merit.
The US Securities and Exchange Commission (SEC) is suing Volkswagen and its former CEO, Martin Winterkorn, for perpetrating fraud against investors amid the so-called dieselgate scandal. The regulator claims the company misled investors in order to achieve financial advantage, when it issued bonds and asset-backed securities despite the knowledge that over 500,000 of its diesel vehicles exceeded legal emissions caps. Volkswagen has described the SEC’s case as being without merit.