Volkswagen AG told a California federal judge that the U.S. Securities and Exchange Commission can’t hide behind excuses, waiting years to sue the vehicle manufacturer for allegedly defrauding U.S. investors in a bond offering that did not disclose its clean diesel emissions cheating effort, reported California Law360 on July 15.
Days earlier, on July 11, VW requested that the U.S. District Court force the SEC to turn over nonprivileged parts of its investigation file. That was “so Volkswagen can fully rebut the purported omissions or mischaracterizations made to investors that the SEC seems to be basing its entire case on, according to a response letter” that was filed with the District Court, noted the article.
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