Volkswagen Won’t Publish Emissions Probe Findings

Volkswagen Won’t Publish Emissions Probe Findings

0 comments 📅11 May 2017, 01:15

The Volkswagen Aggregation will not publish the findings of a wide-ranging investigation of its business conducted by US law stiff Jones Day in the wake of the diesel emissions scandal, said Hans Dieter Pötsch, Chairman of the Managerial Board, at the automaker’s Annual General Meeting on Wednesday.

The announcement was made following calls Tuesday from investment strong, Hermes EOS, to publish the results of the Jones Day investigation that was commissioned by VW.

“To be clear: there is no written irrevocable report from Jones Day, nor will there be,” said Pötsch. “I ask for your arrangement that for legal reasons Volkswagen is prevented from publishing any such communication.”

Pötsch argued that to publish the findings of the Jones Day investigation would contravene its encampment agreement with the US Justice Department. Both entities agreed to use a “statement of facts” in the understanding, which VW agreed not to contradict.

“In this settlement agreement Volkswagen has undertaken unfailing obligations,” said Pötsch. “For example, not to say anything that is in contradiction with the facts and circumstances that are set out in the proclamation of facts. In the interest of Volkswagen, we must and we will fulfill these obligations because we longing otherwise risk more heavy fines. To publish a final report would be indefensible.”

A shareholder rights intercessor, though, argued that VW could publish the findings if the Justice Department okayed them and demanded that VW administration “put all their cards on the table,” reports Automotive News.

Ultimately, VW unruffled looks strong in its resolve not publish the findings, despite the calls from investors. As Pötsch points out, “it’s wholly customary practice not to publish a final report.”

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