Martin Winterkorn, the former chief executive of Volkswagen has been charged with conspiracy in the company’s rigging of diesel vehicles to feign compliance with federal pollution standards.
The charges contradict the German carmaker’s steadfast insistence that no members of its management board were involved in the emissions fraud.
“If it is proven that Mr. Winterkorn was a party to the conspiracy, Volkswagen would be significantly more vulnerable to lawsuits brought by shareholders who accuse top managers of shirking their obligation to inform them of the risks the company was taking. The shareholders are seeking some $10 billion in damages, which would be on top of the roughly $26 billion in fines and civil damages that the carmaker has already paid.”
Read the article at The New York Times.
The post Volkswagen Ex-CEO Faces Criminal Charges in Diesel Emissions Fraud appeared first on Fleet Management Weekly.
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