Teller Report

Now you can see non-English news...

Special session: VW Supervisory Board meets after charges against the top management

2019-09-25T05:20:20.970Z

TIME ONLINE | News, backgrounds and debates



Wolfsburg (AP) - On the day after the indictment against VW CEO Herbert Diess and chief overseer Hans Dieter Pötsch the board of the car maker comes together for a special meeting.

The extraordinary meeting had announced the board of the control committee shortly after the announcement of the indictment. The head of the VW Supervisory Board had also declared at the same time, despite the charge of alleged market manipulation to stick to the two top managers.

The board said that there would be no deliberately omitted information from the capital market, it said on Tuesday after a meeting convened at short notice in Wolfsburg. "For this reason, the successful cooperation with the Chairman of the Supervisory Board and the CEO is to be continued."

The prosecutor Braunschweig had previously reported, Pötsch, Diess and ex-VW CEO Martin Winterkorn accuse of market manipulation in the wake of the exhaust gas scandal. They are accused of not providing investors with timely information about the risks of the diesel affair in 2015. The defenders of the three defendants rejected the allegations.

The Group Management Board sent a letter to the workforce. "We understand that this news makes many of you insecure and affected," says the board of directors Gunnar Kilian (staff) and Hiltrud Werner (integrity and law). The prosecution made it clear that, despite all progress, tackling the diesel crisis was still not over. "It is our top priority to clarify the background and responsibilities," says the document, which is available to the German Press Agency.

The Higher Regional Court (OLG) Braunschweig made it clear that the charges against Diess, Pötsch and Winterkorn for the time being have no effect on the billion dollar investor procedure for the diesel affair. Decisions on the allegation of market manipulation in criminal proceedings would have initially no direct influence on the civil investor model procedure (KapMuG procedure), said the OLG on request of dpa with. "They tie the Senate in any way," said OLG spokeswoman Andrea Tietze.

At the Higher Regional Court of the city is since September 2018 on claims for damages of VW investors for losses suffered negotiated. The main issue in the proceedings is whether VW has timely informed the markets of the scandal surrounding millions of maltreated diesel engines. (Az 3 chapter 1/16)

According to OLG spokeswoman Tietze, however, it is also possible that in the KapMuG proceedings criminal files are consulted, from which then findings can be obtained.

Source: zeit

You may like

Business 2019-09-24T19:50:14.984Z
News/Politics 2019-08-26T23:41:02.666Z

Trends 24h

News/Politics 2019-12-06T03:22:48.734Z

Latest

news 2019/12/06    

© Communities 2019 - Privacy