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VW Says SEC Can't 'Pile On' With Late Emissions Fraud Suit

Law360 (April 13, 2020, 5:48 PM EDT) -- Volkswagen asked a California federal judge Friday to trim the U.S. Securities and Exchange Commission's belated bid to "collect its own pound of flesh" by alleging the German automaker defrauded U.S. investors in a bond offering that failed to disclose its "clean diesel" emissions cheating scheme.

After months of court-ordered settlement negotiations hit a dead end, Volkswagen filed a motion to dismiss "defective claims" in the SEC's "unprecedented" March 2019 securities fraud suit against the auto giant, its financing units and former chief executive.

"This is not a typical securities suit where the misconduct directly related to securities; it is me-too...

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