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Ex-VW boss Winterkorn in court as a witness on the diesel affair

2024-02-14T09:59:25.476Z

Highlights: Ex-VW boss Winterkorn in court as a witness on the diesel affair. Ex-VW CEO to describe his view of the emissions cheating in court. WinterkORN resigned in September 2015 a few days after the car manufacturer's emissions manipulation became known. Investors have been fighting for damages since 2018 because they suffered price losses after the scandal was exposed. The OLG is currently dealing with around 4.4 billion euros. Investors do not feel informed about risks in a timely manner, court says.



As of: February 14, 2024, 10:48 a.m

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Martin Winterkorn, former CEO of Volkswagen AG, is to testify as a witness before the Braunschweig Higher Regional Court on the diesel affair.

© Julian Stratenschulte/dpa/archive image

The diesel scandal swept Martin Winterkorn from his position as CEO of Volkswagen in 2015.

Now he is supposed to describe his view of the emissions cheating in court as a witness.

Braunschweig - The interrogation of former CEO Martin Winterkorn began on Wednesday in the billion-dollar investor trial regarding the VW diesel affair.

The 76-year-old has been called as a witness before the Braunschweig Higher Regional Court.

As CEO, Winterkorn naturally had a special role to play during the period in which the diesel scandal was uncovered, a court spokeswoman said this morning.

The court wants to question him about what he knew, what was told to him and what he perceived in detail about individual processes.

In the proceedings under the Capital Investor Model Procedure Act (KapMug), investors have been fighting for damages since 2018 because they suffered price losses after the scandal was exposed.

The OLG is currently dealing with around 4.4 billion euros.

Investors do not feel informed about risks in a timely manner.

The model plaintiff is Deka Investment, the defendants are Volkswagen AG and the umbrella holding company Porsche SE.

Winterkorn resigned in September 2015 a few days after the car manufacturer's emissions manipulation became known, but a little later claimed that he had not known anything about illegal activity before the scandal was made public.

After Herbert Diess and Matthias Müller, Winterkorn is the third former CEO to be questioned on the matter by the Braunschweig Higher Regional Court.

dpa

Source: merkur

All news articles on 2024-02-14

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