The World Federation of Investors (WFI), whose active member is also the PanSlovenian Investors’ & Shareholders’ Association (VZMD), has announced news regarding the damages inflicted to investors in Volkswagen. The American Federal Bureau of Investigation (FBI) has arrested an executive of Volkswagen and accused him of conspiracy to defraud the U.S., which implies the intensification of the criminal investigation of fraud committed by the car manufacturer in terms of diesel motor emissions. Mr. Oliver Schmidt, who was the compliance manager for Volkswagen in the U.S. from the summer of 2014 to March 2015, was arrested by the investigators in Florida at the beginning of the month.
After a study by West Virginia University first raised questions over Volkswagen diesel motors in 2014, Mr. Schmidt tried to convince the regulators that excess emissions were caused by technical problems rather than by deliberate cheating. Most of the data delivered to the officials and regulators was falsified, as claimed by the officials of the Californian environmental agency - California Air Resources Board. A Californian judge has ruled that Volkswagen and its chief executive officer Mr. MartinWinterkon must face a lawsuit in the U.S. brought by investors who allege the company deliberately inflated its share price by cheating on emissions test.
The car manufacturer admitted in September 2015 to equipping up to 11 million cars worldwide with software allowing them to pass emissions tests even though they were polluting up to 40 times the permitted level of nitrogen oxide in normal road conditions. The investors allege that VW committed securities fraud both through the cheating and by failing to tell investors much earlier that it was in talks with U.S. regulators over irregularities spotted between road tests and lab tests.
On this occasion, VZMD would like to once again invite the affected private and institutional investors to take part in the ongoing proceedings in participation with and in the framework of the partner associations.
REGISTRATION: https://www.stichtingvolkswageninvestorsclaim.com/en/vzmd-panslovenian-shareholders-association
Other Related VZMD Activities:
www.vzmd.si – More on the VZMD – PanSlovenian Shareholders' Association
www.vzmd.tv and www.investo.tv – Over 300 videos from VZMD.tv and investo.TV
www.investo.si – More on the investo.si – Invest to Slovenia Program
www.investo.international – More on the network of 65 national organizations of shareholders and investors – invest-to.net
