Winterkorn Denies Diesel Deceit in Court, Shareholders Seek Justice

February 15, 2024
Winterkorn Denies Diesel Deceit in Court, Shareholders Seek Justice
  • Former Volkswagen CEO Martin Winterkorn denied responsibility for the diesel scandal in court, claiming ignorance of the illegal emissions software.

  • Evidence presented suggests Winterkorn was informed about the emission problems early on.

  • Winterkorn's defense mirrors that of other VW executives, attributing the issue to lower-level staff, despite an Audi executive's conviction and Winterkorn's own pending criminal charges.

  • The court highlighted Winterkorn's significant role as CEO during the scandal's exposure and is set to continue his interrogation.

  • Winterkorn maintains a confident courtroom presence, even as he faces additional criminal proceedings for fraud and market manipulation.

  • The lawsuit's outcome could significantly impact the financial status of Volkswagen and Porsche, with shareholders seeking damages for stock losses since 2018.

  • This is the third former CEO to be questioned in the ongoing legal proceedings, and Winterkorn resigned in 2015 when the scandal emerged.

Summary based on 26 sources


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