Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Xetra  >  Volkswagen    VOW3   DE0007664039

VOLKSWAGEN

(VOW3)
My previous session
Most popular
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Volkswagen : SEC Charges VW, Ex-CEO Winterkorn With Defrauding U.S. Bond Investors

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/15/2019 | 01:58am EDT

By WSJ Staff

The U.S. Securities and Exchange Commission said it charged Volkswagen AG, two of its units, and former Chief Executive Martin Winterkorn with defrauding U.S. bond investors.

In a news release issued late Thursday, the SEC said the German auto maker raised billions of dollars through the corporate bond and fixed-income markets, while making a series of deceptive claims about the environmental impact of the company's "clean diesel" fleet.

The SEC said it alleges in its complaint that from April 2014 to May 2015 VW issued more than $13 billion in bonds and asset-backed securities in the U.S. markets at a time when senior executives knew that more than 500,000 vehicles in the U.S. grossly exceeded legal vehicle-emissions limits, exposing the company to massive financial and reputational harm.

The SEC's complaint alleges that Volkswagen made false and misleading statements to investors and underwriters about vehicle quality, environmental compliance, and VW's financial standing, the agency said.

The complaint alleges that VW, by concealing the emissions scheme, reaped hundreds of millions of dollars in benefits by issuing the securities at more-attractive rates for the company, the agency said.

The SEC said it charged VW, Mr. Winterkorn and subsidiaries Volkswagen Group of America Finance LLC and VW Credit Inc. with violating the antifraud provisions of the federal securities laws.

The SEC complaint seeks permanent injunctions, disgorgement of ill-gotten gains with prejudgment interest, and civil penalties, the SEC said. The complaint also seeks an officer and director bar against Mr. Winterkorn, the SEC said.

"Issuers availing themselves of American capital markets must provide investors with accurate and complete information," said Stephanie Avakian, co-director of the SEC's division of enforcement in the news release. "As we allege, Volkswagen hid its decadelong emissions scheme while it was selling billions of dollars of its bonds to investors at inflated prices."

The SEC's complaint was filed in the U.S. District Court for the Northern District of California, the SEC said.

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on VOLKSWAGEN
03/22VOLKSWAGEN : Lamborghini aims for localization of in-vehicle technology in China
AQ
03/22VOLKSWAGEN : Cruising USA with "the thing"
PU
03/22VOLKSWAGEN : As a responsible company, ŠKODA AUTO places great importance..
PU
03/22Europe needs private A.I. champion, German minister tells paper
RE
03/22Europe must build world's best batteries to save jobs - German minister
RE
03/22VOLKSWAGEN : Auditor Says Volkswagen Needs to Improve Whistleblower System, Tran..
DJ
03/22VOLKSWAGEN : Presentation - Investor Roadshow with Exane BNP Paribas
PU
03/22Daimler taps Goldman to raise China BAIC shareholding - sources
RE
03/21VOLKSWAGEN : Audi Sport shoots for hat-trick in California
AQ
03/21Volkswagen, NorthVolt Team Up on Battery Research -- Update
DJ
More news
Financials (€)
Sales 2019 244 B
EBIT 2019 17 717 M
Net income 2019 13 538 M
Finance 2019 26 041 M
Yield 2019 4,42%
P/E ratio 2019 5,12
P/E ratio 2020 4,88
EV / Sales 2019 0,19x
EV / Sales 2020 0,15x
Capitalization 71 184 M
Chart VOLKSWAGEN
Duration : Period :
Volkswagen Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends VOLKSWAGEN
Short TermMid-TermLong Term
TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 29
Average target price 193 €
Spread / Average Target 39%
EPS Revisions
Managers
NameTitle
Herbert Diess Chairman-Management Board
Hans Dieter Pötsch Chairman-Supervisory Board
Frank Witter Head-Finance & Information Technology
Peter Mosch Member-Supervisory Board
Bernd Osterloh Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
VOLKSWAGEN0.16%80 438
TOYOTA MOTOR CORP9.27%200 409
DAIMLER AG10.00%61 050
GENERAL MOTORS CORPORATION8.94%51 361
BAYERISCHE MOTOREN WERKE-1.56%51 183
HONDA MOTOR CO LTD9.07%50 314