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Further probe into the VW emissions scandal

Posted on 13 November, 2017

Germany’s financial watchdog, BaFin, said on Friday it was investigating whether Volkswagen illegally disclosed information about its emissions violations to third parties. Earlier this week, a German court also ruled an independent auditor should be appointed to investigate Volkswagen’s cheating of U.S. diesel engine tests, boosting investors’ hopes for compensation. On Friday, German magazine Der Spiegel reported that Volkswagen’s CEO at that time, Martin Winterkorn, informed then Transport Minister, Alexander Dobrindt, on September 21, 2015 abut the extent of the carmaker’s violations. However, VW did not make it known to the public until September 22, 2015 that around 11 million cars were fitted with emission-cheating software. VW has declined to comment on the latest investigation, but reiterated its view that its management board "duly fulfilled" its obligations regarding capital market disclosure rules.