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Volkswagen files for U.S. class action suit to be dismissed

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Volkswagen  said on Tuesday it had submitted a motion to dismiss a multi-district litigation case filed with the United States District Court for the Northern District of California.

Volkswagen wants to dismiss the Consolidated Securities Class Action Complaint, filed by the Arkansas State Highway Employees’ Retirement System, VW said.

The case fails to prove that former Chief Executive Martin Winterkorn and current VW brand chief Herbert Diess were directly involved in the preparation of “allegedly misleading statements”, VW said.

Volkswagen has been accused of deception for failing to inform investors in a timely manner about cheating emissions tests in the United States by using software.

 

 

 

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