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Ex-VW Chief Winterkorn Summoned to Testify in Diesel Scandal
Former Volkswagen AG CEO Martin Winterkorn and 27 others have been ordered to testify about shareholder claims that the company didn’t report VW’s diesel emission cheating quickly enough, Bild reports.
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Former Volkswagen AG CEO Martin Winterkorn and 27 other executives have been ordered by a German court to testify about shareholder claims that the company didn’t report VW’s diesel emission cheating quickly enough, Bild reports.
The German newspaper says the group summoned by a regional court in Stuttgart includes Audi CEO Rupert Stadler, Bosch CEO Volkmar Denner and two former VW technology leaders: Ulrich Hackenberg (product development) and Wolfgang Hatz (engineering).
The court is hearing a case brought by German investor rights law firm Tilp on behalf of VW shareholders against the carmaker and its majority shareholder, Porsche Automobil Holding SE. The plaintiffs claim VW management failed to promptly notify them in September 2015 when they discovered the company had rigged 11 million diesel vehicles to evade emission laws.
VW concedes the cheating. But it has steadfastly insisted that it did not hide the fact when it was discovered.
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