VW Hit With Stock Drop Suit Over 'Voltswagen' Gag

Law360 (April 30, 2021, 4:45 PM EDT) -- A Volkswagen investor accused the company Friday of artificially inflating stock prices ahead of April Fool's Day, when it posted a press release announcing a name change to "Voltswagen" and confirmed the purported change to media outlets, despite no plans to actually use that name.

Gerald M. Montag argued in his suit that Volkswagen AG and its subsidiary Volkswagen Group of America Inc. violated the Exchange Act by knowingly and falsely claiming the company was planning to change its name to highlight its electric vehicles.

The U.S. subsidiary briefly published on its website a draft of a press release about the name...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!