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August 3, 2016

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Carmaker eyes case dismissal

VOLKSWAGEN said yesterday it had submitted a motion to dismiss a multi-district litigation case filed with the United States District Court for the Northern District of California.

VW wants to dismiss the Consolidated Securities Class Action Complaint, filed by the Arkansas State Highway Employees’ Retirement System, VW said.

The case fails to prove that former CEO Martin Winterkorn and current VW brand chief Herbert Diess were directly involved in the preparation of “allegedly misleading statements”, VW said.

VW has been accused of deception for failing to inform investors in a timely manner about cheating emissions tests in the US by using software.


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