• Email Us: [email protected]
  • Contact Us: +1 718 618 4351
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Volkswagen Wraps Dieselgate Investigation, To Seek Damages From Former CEOs

April 5, 2021 by Jennifer Preston Leave a Comment

The Volkswagen Group has finally wrapped internal investigation in the Dieselgate emissions cheating scandal that went on for several years. The automaker has now decided to seek compensation from two former CEOs. It has sought damages from former Audi CEO Rupert Stadler and former CEO Martin Winterkorn. This was one of the biggest financial damages for the company which ultimately resulted in the emissions cheating scandal. The law firm working for Volkswagen had to go through 65 petabytes of data including. The German automaker said that about 1.6 million documents were found to be relevant and were screened and reviewed by the law firm.

Volkswagen said that the internal probe conducted by the company was by far the most complex and comprehensive investigation in German economic history. It was found after the investigation that both the executives had breached their duty of care. The company said that no other management board members were involved in it. Winterkorn and Stadler have denied being responsible for the scandal. After the news about the scandal broke in September 2015, Winterkorn had resigned from the post. He was later arrested in Germany. Winterkorn was accused of not only knowing about the use of illegal software to fool regulators but also sitting on the report by Environmental Protection Agency. He will also be tried on charges of serious tax evasion and organised commercial fraud.

The company said Winterkorn failed to act in a responsible manner. Stadler too was arrested in Germany. The development forced Audi to push back the launch of its first all-electric car. It has been trying hard for all these past years to distance itself from the Dieselgate scandal. The scandal costs Volkswagen around USD 30 billion in compensation, fines, and legal costs. The company tried to blame several individual actors for this scandal. The development comes at a time when Volkswagen has shifted all its focus towards electric vehicles. The company has increased its investment to USD 86 billion for this.

Jennifer Preston
Jennifer Preston

Related posts:

  1. Wells Fargo Agrees To Pay USD 3 Billion In Penalties To Settle Fake Accounts Scandal
  2. Kraft Heinz Reportedly Selling Its Planters Brand To Hormel USD 3 Billion
  3. Jeff Bezos To Step Down As Amazon CEO Later This Year, Andy Jassy His Successor
  4. Facebook To Take On Apple With Smartwatch, Roll Out Expected By Next Year

Filed Under: Business

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • TWIS: Orcas Ramp Up Their Boat-Destroying Tactics, Billion-Year-Old Rocks Reveal Ancestral “Lost World”, And Much More This Week
  • 100,000 Soldiers: A Geological Oddity Not Seen Anywhere Else In The World
  • Most Expensive Pink Diamond Sells For Record $34 Million In Just 2 Minutes
  • Some Think Shilajit Is An “Elixir Of Life,” But What Does The Science Say?
  • US “Doomsday” Plane, Capable Of Surviving Nuclear War, Just Got A Big Revamp
  • Who Were The Real Aryans Before The Name Got Co-Opted By Racists?
  • After Months Of Warnings, El Niño Has Been Officially Declared
  • “Elixir Of Life”: Single Amino Acid Could Boost Lifespan By 10 Percent
  • 12,000-Year-Old Bone Flutes Discovered Sound Amazingly Like Birds Of Prey
  • Three New Shipwrecks Found In The Mediterranean, Dating Back As Far As 100 BCE
  • The Biggest Ammonite Fossil Ever Found Was A Whopping 1.8 Meters
  • RNA-Editing Octopuses Rewire Their Brains To Cope With Drops In Temperature
  • New 99-Million-Year-Old Dinosaur Species Discovered In Utah
  • Rebound Relationships: What They Are And Why They Can Work Better Than You Think
  • Aggressive Rabid Moose Becomes The First Ever Detected In Alaska
  • Are Billionaires’ Extreme Youth-Extending Measures Really Worth It?
  • Is A Mysterious Cipher Concealed Within The “Alchemical Hand Bell”?
  • IFLScience The Big Questions: Is Jurassic Park Possible?
  • Greenhouse Gas Emissions At “All-Time High,” Pushing Planet To Its Limits
  • Parents Who Phub Could Push Their Kids Towards Phone “Addiction”
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 618 4351
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2023 · Medical Market Report. All Rights Reserved.

Go to mobile version