Dieselgate : two bosses of Volkswagen outside of a trial - The Point

captains of Volkswagen to avoid a trial. Tuesday 19 may, the German court has put an end, against a payment of nine million euros, to a procedure for manipulati

Dieselgate : two bosses of Volkswagen outside of a trial - The Point

captains of Volkswagen to avoid a trial. Tuesday 19 may, the German court has put an end, against a payment of nine million euros, to a procedure for manipulation of the financial markets linked to the " dieselgate ", who was the director of Volkswagen, Herbert Diess, and the chairman of the supervisory board, Hans Dieter Pötsch, announced the German automaker. "The supervisory board welcomes the end of the procedure," public prosecutor of Brunswick to the two most senior leaders of the group, which were from September 2019 in the antechamber of a trial in the context of the scandal of diesel engines-fixing, said a spokesman.

The group agreed to take responsibility for the payment, because it has not identified "breaches of the duties owed to the company" on the part of Herbert Diess and Hans Dieter Pötsch, who were accused of having informed too late of the investors of the fraud on the diesel cars. "The legal advisers and representatives of the company are of the opinion that the charges against Mr. Pötsch and Mr. Diess are without merit," says the group. "It is in the interest of the group to put an end to these procedures," added the spokesperson.

also Read "Dieselgate" : the first group action in France against Volkswagen

at the End of September 2019, the prosecutor's office had sent the two leaders to " manipulation of stock prices ", with former boss Martin Winterkorn, already referred to " fraud aggravated ". The agreement does not cover the ex-CEO's, lawyers, solicited by the Agence France-Presse, have not responded in the immediate future. Hans Dieter Pötsch remains under investigation by the public prosecutor of Stuttgart for manipulation of the markets. The former boss of Audi, Rupert Stadler, also awaits a trial.

in A scandal that has cost more than 30 billion euros in the constructor

The scandal broke in September 2015, when, after accusations of the united states environment agency (EPA), Volkswagen has admitted to having rigged 11 million vehicles with a software that can make them appear less pollutants when tested in the laboratory and on the roads. The Stock price had plunged in a few days. Herbert Diess, current CEO of the group, was then the director of the VW brand. Hans Dieter Pötsch was the chief financial officer of the group under Martin Winterkorn.

"dieselgate" has already cost more than 30 billion euros to the German manufacturer, which has been trying for burnish his image by focusing on the electric car. The bulk of this sum – legal costs, fines and damages – has for the time been spent in the United States, including to generously compensate customers for the recovery of their vehicles. In Germany, the manufacturer has paid three fines for a total of 2.3 billion euros.

Read also Renault and PSA were they "rigged" their diesel engines ?

at the End of April, a judicial component of this scandal sprawling is closed : in the framework of a friendly settlement agreement, Volkswagen will pay at least 750 million euros to repay 235 000 customers grouped in a trial without precedent in Germany, similar to a "class action" in the us. Investors claim, however, yet to be compensated in the framework of a procedure grouped to open in September 2018 and has yet to last for several months.

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Automotive and CO2 : Europe presents the painful bill
Updated Date: 21 May 2020, 16:33

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