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VW May Sue Winterkorn for Damages in Diesel Scandal
Volkswagen AG’s supervisory board confirms it is studying whether to file a damage claim against ex-CEO Martin Winterkorn and other former executives over the company’s diesel emission cheating.
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Volkswagen AG’s supervisory board confirms it is studying whether to file a damage claim against ex-CEO Martin Winterkorn and other former executives over the company’s diesel emission cheating.
The board tells the Financial Times it has made no decision. The Financial Times says German law makes executives materially liable for any deliberate harm they cause their company, including the failure of internal controls.
Last week the U.S. Dept. of Justice revealed that a federal grand jury has charged Winterkorn with conspiring to evade U.S. emission standards and violating the Clean Air Act.
The Frankfurter Allgemeine reports separately that Winterkorn’s fortune—including more than €100 million ($120 million) in VW career income and a €30 million ($36 million) pension—is at risk of seizure.
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