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Sunday, September 19, 2021

The dieselgate scandal in the US. Porsche sued in the United States

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Porsche has been sued in the United States in the case of the “dieselgate” scandal, in which Volkswagen has manipulated exhaust gas measurement in diesel cars, the company said in a semi-annual report. The company from Stuttgart is the largest shareholder of Volkswagen.

A complaint against Porsche and the former members of the group’s board of directors was brought to the New York State Court in April. A company that owns 31.4 percent. Volkswagen shares, did not reveal the identity of the complainants.

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Porsche sued in the US over the “dieselgate” scandal

This lawsuit is another installment of the “dieselgate” scandal that broke out in 2015, when the Volksawagen admitted manipulating the measurement of exhaust gases in diesel cars. This scandal has already cost the car concern over 32 billion euros spent on penalties, damages and legal services.

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In addition, Volkswagen and Porsche have already been sued for EUR 4.1 billion in damages to shareholders in connection with the scandal and the resulting losses. As Reuters forecasts, the proceedings related to these lawsuits will probably take several years.

The “dieselgate” scandal – a Volkswagen settlement

In July, Volkswagen shareholders approved an out-of-court settlement dropping complaints against four former members of the company’s board of directors, including longtime VW president Martin Winterkorn.

US authorities revealed in September 2015 that Volkswagen is suspected by the US federal Environmental Protection Agency (EPA) of manipulating diesel exhaust gas measurements, which could result in huge penalties for the manufacturer. Shortly thereafter, the concern admitted, citing internal controls, that the software questioned by the EPA was installed in its cars also outside the US.

VW is the largest car manufacturer in the world. The concern employs 600 thousand. people, and its annual revenue amounted to 200 billion euros. The company consists of 12 brands producing passenger cars and trucks.

Main photo source: Shutterstock



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