VW Denies Investor Claims Of Slow Emissions Disclosure
Law360, New York (March 2, 2016, 5:02 PM EST) -- Volkswagen AG on Wednesday denied German shareholders' accusations that the automaker was too slow to admit its scheme to cheat diesel emissions standards with cars equipped with infamous defeat devices, saying it complied with the country's disclosure laws and sees the suits as "without merit."
VW said it's filed a formal statement of defense with the Braunschweig District Court in Germany, rejecting investor allegations that it violated corporate disclosure requirements under capital markets law. After "careful examination" by internal and external experts, VW said it's clear the management board informed investors of the emissions fraud in a timely fashion, according to...
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