Automotive News: Porsche says raids possible in emissions-scandal probe, Daimler Said to Seek U.S. Lawyers for Executives in Diesel Probe
Porsche says raids possible in emissions-scandal probe
Porsche Automobil Holding SE cannot rule out the possibility that investigators acting on behalf of German public prosecutors may raid its premises in connection with Volkswagen Group's diesel emissions scandal.
Porsche SE is an investment vehicle which owns the majority of VW's voting shares. Stuttgart prosecutors confirmed earlier this month that Porsche SE CEO Hans Dieter Poetsch and management board member Matthias Mueller are being investigated on suspicion they may have informed investors too late about risks to Porsche SE from VW Group's emissions cheating. read more »
Daimler Said to Seek U.S. Lawyers for Executives in Diesel Probe
Daimler AG is conducting a search for U.S. criminal defense lawyers to represent company executives who may be swept up in the Justice Department’s investigation of possible diesel-emissions cheating, according to people familiar with the matter.
The outreach suggests that prosecutors have identified people at the company they plan to interview as they examine whether the Stuttgart, Germany-based automaker installed devices in its Mercedes-Benz diesel models in an attempt to evade U.S. environmental laws, said two people, who spoke on the condition of anonymity. It’s unclear whether the executives seeking counsel are based in the U.S. or Germany. read more »
Smoky Diesel Cloud Hangs Over Auto Industry Profits
Lawsuits against Fiat Chrysler and GM are only the most visible sign of diesel’s mounting costs
If Volkswagen’s rivals ever felt schadenfreude when the auto maker’s diesel emissions fraud came to light in 2015, they won’t be feeling it now. Recently launched lawsuits against Fiat Chrysler and General Motors are only the most visible of diesel’s mounting costs.
GM dismissed claims, made last week by lawyers representing vehicle owners, that certain diesel pickup trucks contained Volkswagen-style “defeat devices” designed to cut nitrogen-oxide emissions under test conditions. read more »
