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Found 8 results

  1. The U.S. Security and Exchange Commission has filed suit in San Francisco on Thursday alleging that from April 2014 through May 2015, Volkswagen fraudulently issued more than $13 Billion in bonds and securities in the U.S. market. During that time, the SEC alleges that Winterkorn and other senior management knew about the problem with over 500,000 diesel vehicles that exceeded legal emissions limits. The suit says: Winterkorn resigned within days of the scandal braking in 2015. Volkswagen said in a statement that the lawsuit is "legally and facturally flawed" and "the comp
  2. The U.S. Security and Exchange Commission has filed suit in San Francisco on Thursday alleging that from April 2014 through May 2015, Volkswagen fraudulently issued more than $13 Billion in bonds and securities in the U.S. market. During that time, the SEC alleges that Winterkorn and other senior management knew about the problem with over 500,000 diesel vehicles that exceeded legal emissions limits. The suit says: Winterkorn resigned within days of the scandal braking in 2015. Volkswagen said in a statement that the lawsuit is "legally and facturally flawed" and "the comp
  3. Audi finds itself in more legal trouble, but not fully related to the diesel emission scandal. The Wall Street Journal reports that German prosecutors have opened an investigation into three employees of Audi for possible falsifying of documents to get roadworthiness certifications for vehicles heading to South Korea. Karin Jung, a Munich prosecutor told the paper that the three people are suspected of falsifying serial numbers, and manipulating test and mileage readings. This investigation stems from raid done by Munich authorities of Audi's offices last year. One of the documents t
  4. Audi finds itself in more legal trouble, but not fully related to the diesel emission scandal. The Wall Street Journal reports that German prosecutors have opened an investigation into three employees of Audi for possible falsifying of documents to get roadworthiness certifications for vehicles heading to South Korea. Karin Jung, a Munich prosecutor told the paper that the three people are suspected of falsifying serial numbers, and manipulating test and mileage readings. This investigation stems from raid done by Munich authorities of Audi's offices last year. One of the documents t
  5. Former Volkswagen CEO Martin Winterkorn is already being investigated by German prosecutors over market manipulation because of the diesel emission scandal. But now, he finds himself under a new investigation by prosecutors on the suspicion of fraud. Reuters reports that prosecutors in Braunschweig believe Winterkorn knew about the cheat used on the 2.0L TDI well before the timeframe he has admittedly publicly. This suspicion comes as the result of numerous interviews with witnesses and suspects, along with raids on 28 houses and offices this week. "Sufficient indications have resul
  6. Former Volkswagen CEO Martin Winterkorn is already being investigated by German prosecutors over market manipulation because of the diesel emission scandal. But now, he finds himself under a new investigation by prosecutors on the suspicion of fraud. Reuters reports that prosecutors in Braunschweig believe Winterkorn knew about the cheat used on the 2.0L TDI well before the timeframe he has admittedly publicly. This suspicion comes as the result of numerous interviews with witnesses and suspects, along with raids on 28 houses and offices this week. "Sufficient indications have resul
  7. William Maley Staff Writer - CheersandGears.com July 30, 2013 In India, General Motors hasn't issued a recall since 1995. That trend ended this past week as GM announced the recall of 114,000 Chevrolet Tavera utility vehicles built from 2005 to 2013 and are equipped with the 2.5L and 2.0L engines. The reason? According to India's Economic Times via Automotive News, GM employees deliberately fudged emission inspections to meet the standards. "Over a period of time some employees of the company engaged in the practice of identifying engines with lower emission which were fine-tuned and kept
  8. William Maley Staff Writer - CheersandGears.com July 30, 2013 In India, General Motors hasn't issued a recall since 1995. That trend ended this past week as GM announced the recall of 114,000 Chevrolet Tavera utility vehicles built from 2005 to 2013 and are equipped with the 2.5L and 2.0L engines. The reason? According to India's Economic Times via Automotive News, GM employees deliberately fudged emission inspections to meet the standards. "Over a period of time some employees of the company engaged in the practice of identifying engines with lower emission which were fine-tuned and kept

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