VWAGY - Driving Past Dispute: Volkswagen Finance Unit Reportedly Resolves SEC Lawsuit | Benzinga
Volkswagen AG (OTC:VWAGY) Volkswagen Group of America’s wholly owned finance unit has reportedly reached a $48.75 million settlement to resolve allegations of defrauding investors in U.S. bond offerings.
The Securities and Exchange Commission filed a civil lawsuit in March 2019, accusing Volkswagen AG, two subsidiaries, and former CEO Martin Winterkorn of investor fraud.
The SEC dismissed claims against Volkswagen AG and Winterkorn, according to a report from Reuters.
The settlement represents the final major legal action stemming from the diesel emissions scandal in the U.S., as per the report.
This scandal resulted in over ...