diesel engines: The announcement is a fresh blow to VW efforts to move on from the worst crisis in its history, which erupted after the group admitted in September 2015 to installing software in 11 million diesel engines worldwide that could dupe emissions tests to make the cars seem less polluting than they were, according to The Japan Times. Prosecutors in the German city of Brunswick are already investigating former CEO Martin Winterkorn and another former board member for allegedly holding back information from investors in the days after the scandal erupted. VW said the probe had now also ensnared board Chairman Hans Dieter Poetsch, who was only appointed last year, and would focus on his previous role as the group chief financial officer. The carmaker said in a statement it would stand by Poetsch, who was VW finance chief for over a decade before he was named supervisory board chairman in a reshuffle a month after the crisis broke. By law, listed companies are required to disclose information that could affect market prices immediately. Based on careful examination by internal and external legal experts, the company reaffirms its belief that the Volkswagen board of management duly fulfilled its disclosure obligation under German capital markets law, VW said.
(news.financializer.com). As
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