NEW YORK--(BUSINESS WIRE)--Scott+Scott, Attorneys at Law, LLP (“Scott+Scott”), a national shareholder and consumer rights litigation firm, announces the commencement of an investigation into Volkswagen AG (OTC:VLKAY) and preferred ADRs (OTC:VLKPY) (“Volkswagen”) related to potential violations of federal securities laws. If you are a Volkswagen shareholder, you are encouraged to contact Scott+Scott for additional information.
Volkswagen (VLKAY and VLKPY) is a German multinational automotive manufacturing company. Volkswagen manufactures and sells automobiles in Europe, North America, South America, and the Asia-Pacific.
On September 18, 2015, the U.S. Environmental Protection Agency (“EPA”) issued a notice of violation of the Clean Air Act to Volkswagen for allegedly allowing certain of its diesel cars to have software that evades emission standards.
On September 20, 2015, Volkwagen announced it would halt the sale of all diesel cars in the U.S. in the wake of charges by the EPA that it deliberately programmed cars to evade emissions rules. Volkswagen’s chief executive, Martin Winterkorn, recently said in a statement that he was “deeply sorry that we have broken the trust of our customers and the public.”
On this news, shares of VLKAY and VLKPY have fallen over 22% per share since September 17, 2015.
What You Can Do
If you are a Volkswagen shareholder and you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Joseph Halloran at (800) 404-7770 or (646) 582-0121 or at firstname.lastname@example.org.
About Scott+Scott, Attorneys at Law, LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide.