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A federal judge on Friday sharply questioned the U.

S. Securities and Exchange Commission on the timing of its civil suit filed in March accusing Volkswagen AG of defrauding investors and demanded the agency explain its rationale...

...At a status conference on Friday in San Francisco, U.S. District Judge Charles Breyer questioned the SEC’s “lateness” in suing VW more than two years after the company settled the Justice Department’s criminal probe, pleading guilty to three felonies and paying $4.3 billion in penalties.

“My basic question is what took you so long,” Breyer said, adding he was “totally mystified” why the SEC waited until 2019...


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