SEC, VW Must Cut Deal In Emissions Fraud Suit, Judge Says

Law360 (August 16, 2019, 7:02 PM EDT) -- A California federal judge told the U.S. Securities and Exchange Commission and Volkswagen on Friday to negotiate a deal to end claims the German automaker defrauded U.S. investors in a bond offering that failed to disclose its “clean diesel” emissions cheating scheme.

U.S. District Judge Charles Breyer urged the SEC and Volkswagen to work out a settlement and present a plan to the court on Oct. 4 to avoid a costly court battle stemming from the SEC’s March suit accusing the auto giant, its financing unit and former chief executive of securities fraud. Judge Breyer also hit pause on all discovery...

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