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U.S. Investors Sue Volkswagen Over Diesel Emissions Scandal
2015-09-28 15:28:00| Automakers - Topix.net
Volkswagen AG was accused in a lawsuit of scheming to defraud U.S. investors who paid artificially inflated prices for the company's foreign shares while it cheated on vehicle emissions tests. In what may be the first investor suit over Volkswagen's use of so-called defeat device software to pass smog tests, a Michigan pension fund alleges that holders of the company's American depositary receipts lost hundreds of millions of dollars.
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Category:Automotive