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Volkswagen CEO And Chairman Charged In Stock Market Manipulation

CEO Herbert Diess and Chairman Hans Dieter Pötsch are accused of failure to disclose in a timely manner the significant financial risks connected to the diesel emissions scandal.

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Photo credit: iStock.com/tstajduhar

Mainstream media and automotive outlets have reports that Volkswagen CEO Herbert Diess as well as Chairman Hans Dieter Pötsch have been charged with stock market manipulation connected with the VW emissions scandal, which first came to light in 2017.

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Diess and Pötsch are accused of failure to disclose in a timely manner the significant financial risks connected to the diesel emissions scandal.

According to a report from CNN, under German law, top executives must inform shareholders of information that can affect stock prices — such as considerable financial risks — as soon as they become aware of them.

According to an article in Automotive News, Diess will remain in his post and fight the charges.

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