“Volkswagen has misled its shareholders by false and misleading statements,” the organization writes Monday.
When it was shown in the United States that diesel Volkswagens are equipped with computer software to bypass such high environmental standards if the cars are tested on the dyno, the share decreased by more than 35 percent.
VEB also believes that the financial statements of 2008 and 2014 give a fair picture of actual sales and profits. “The results are indeed obtained the necessary artifice,” says VEB.
The subpoena, according to the investors club a first step in a process that may take years to complete. The association acts on behalf of investors who had been on September 18 shares Volkswagen in their possession and who have bought via an investment in the Netherlands or via a Dutch bank or broker.
Liability
VEB Volkswagen already stated on 25 september liable for the damage caused to investors by environmental scandal. In response, let the company know that the market does have properly informed adequately. The VEB notes however that the company knew in May 2014 that the US authorities project involved a possible fraud.
The association takes Volkswagen also criticized for flashy sought publicity with the sustainable nature of Volkswagen . The company in the car category topped the Dow Jones Sustainability Index and communicated that asset to the outside world.
At that time there was already widely manipulated by diesel engines. In late September Volkswagen was otherwise removed from the list by the compiler.
“Because of the deception, investors acted at too high a share price in Volkswagen shares,” VEB concludes.
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