Volkswagen Fears Global Retaliation If Results Of Dieselgate Investigation Are Published

Volkswagen AG will not publish a final report with the conclusions of an external investigation into its diesel emissions scandal conducted by U.S. law firm Jones Day.

Addressing 3,000 shareholders at the carmaker’s annual general meeting here Wednesday, VW Chairman Hans Dieter Poetsch praised the Jones Day probe as "one of the most comprehensive in German corporate history," but said VW would risk heavy fines and potentially more lawsuits if it agreed to the demands.

"I’m aware that some of you wish for greater transparency. Often the publishing of a full report is demanded,” Poetsch said. "To be clear: there is no written final report from Jones Day, nor will there be. I ask for your understanding that for legal reasons Volkswagen is prevented from publishing any such report."

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TheSteve - 5/10/2017 2:03:54 PM

+3 Boost

Article: “…Poetsch said VW would risk “massive fines" if the report were published…”

Plain English Translation:

The report reveals massive wrongdoing on the part of Volkswagen, and we fear if this became public, we’d be in even worse legal trouble than we are now. The report exposes our systemic fraudulent and unethical business practices, and it could be used as evidence against us in court. So instead of transparency, we will continue to operate as we have in the past, stonewalling any government or legal investigation while issuing PR statements asserting that we are “fully co-operating with authorities.” If you want evidence against us, we certainly won’t give it to you voluntarily.

F*ck you very much,
Volkswagen

MorePower - 5/10/2017 5:19:49 PM

+1 Boost

P.s.

Farfegnuen

TheSteve - 5/10/2017 7:45:23 PM

+2 Boost

"When the thought of people discovering who you really are troubles you, then your personal transformation is long overdue." -- Steve

Agent009 - 5/11/2017 10:49:20 AM

+1 Boost

There are two options:

Make those responsible legally and begin an oversight review of practices.

Or

Let it blow over.

They will err with the later i'm afraid

PUGPROUD - 5/10/2017 5:20:38 PM

0 Boost

Memo to VW CFO...Time to book another $20 billion reserve on the balance sheet. The facts and the truth will be revealed and your exposure to law suits, judgments and fines will increase. This scandal will reverberate well into the next decade.

MorePower - 5/10/2017 6:38:06 PM

+1 Boost

Message to V.A.G. CEO: Come clean now!

Whatever pain VW suffers now will be nothing compared to what will happen when it eventually leaks.

P.S.

A GTI should not cost $30k with a few options. Drop that price!