German automaker Volkswagen is facing a lawsuit filed over its actions toward investors during the so-called “Dieselgate” scandal. Filed by the Securities and Exchange Commission (SEC), the lawsuit alleges that the automaker allowed investors to buy $13 billion worth of company bonds despite being aware of a growing scandal involving illegal software used to manipulate emissions’ testing results. The “Dieselgate” scandal of September 2015 revealed that Volkswagen cheated emissions tests on its diesel cars by installing illegal software to give them lower pollution readings. Since then, it has snowballed into an expensive global fiasco, costing the company more than $30
The post Volkswagen Faces SEC Lawsuit Over “Dieselgate” Scandal appeared first on CCN
* First published on ccn.com
