AutoBeta(AutoBeta.net)06/04 Report--

Previously, we have repeatedly reported that the German Volkswagen Group has been sued by German prosecutors and the US Environmental Protection Agency for excessive diesel engine emissions, and the former CEO Winterkorn has resigned and been sued for emissions. This time Volkswagen was sued again by investors.

On June 2, local time in Germany, the Brent District Prosecutor's Office asked senior executives such as Herbert Dis, the current CEO of Volkswagen, and Hans Ditte Panshi, chairman of the supervisory board of Volkswagen Group, whether they had done their duty in this matter, because under German local law, failure to make regulatory disclosure may constitute a crime of market manipulation.

Mr Winterkorn, Mr Deiss's predecessor, was also the most innocent, and on May 4th last month, the US Department of Justice indicted him for trying to cover up public emissions. Shortly after the emissions gate erupted in the US in September 2015, Mr Winterkorn resigned as CEO and said: "I am not aware of any wrongdoing."

The American prosecution of Winterkorn is likely to be largely symbolic. As a German citizen, he will almost certainly not go to the United States to be punished, and he also seeks protection under German extradition laws. Wende is also under investigation by the German authorities, and the US prosecution of Winterkorn is likely to be largely symbolic. As a German citizen, he will almost certainly not go to the US judiciary for punishment, he also seeks protection under the German extradition law, and Wennde is under investigation by the German authorities.

At the annual shareholders' meeting in Berlin, Volkswagen CEO Deiss reiterated the need for Volkswagen to restore confidence and establish a positive image from the public as it struggles to recover from the emissions scandal, but cautious investors are demanding external censorship measures.

Although Volkswagen's share price fell 37% after the emissions gate incident, Volkswagen did not think its executives could have foreseen the huge impact the scandal would have on the company. The word of Volkswagen is: Volkswagen has been committed to reconciliation with relevant departments afterwards, so the board of directors of Volkswagen did not consider it necessary to inform investors at that time.

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