SEC Fraud Suit Roils VW Bid To Shake Emissions Scandal
Law360 (May 9, 2019, 9:07 PM EDT) -- The U.S. Securities and Exchange Commission's allegations that Volkswagen fraudulently raised billions of dollars through bonds while failing to mention that scores of its vehicles flouted emissions standards throws a wrench in the German automaker's attempts to move past its "clean diesel" emissions scandal.
The SEC alleged in March that U.S. investors were duped when Volkswagen issued more than $13 billion in bonds and asset-backed securities in 2014 and 2015, a blunt reminder that the auto giant hasn't insulated itself from enforcement actions related to the emissions scandal despite already paying out billions of dollars in penalties and settlements with the...
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