Volkswagen to hunt dieselgate damages from former CEO, Audi boss By Reuters

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Volkswagen to seek dieselgate damages from former CEO, Audi boss

© Reuters. Former Volkswagen CEO Winterkorn leaves after testifying to a parliamentary committee on the carmaker’s emissions scandal in Berlin

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FRANKFURT (Reuters) – Volkswagen (DE:) will declare damages from former Chief Govt Martin Winterkorn and former Audi boss Rupert Stadler over its diesel emissions scandal, the carmaker mentioned on Friday.

The German group mentioned that following a far-reaching authorized investigation it had concluded Winterkorn and Stadler had breached their responsibility of care, including it had discovered no violations by different members of the administration board.

Winterkorn and Stadler have each denied being answerable for the scandal.

Volkswagen admitted in 2015 to utilizing unlawful software program to rig diesel engine checks in the USA, sparking the most important disaster in its historical past. The scandal has price it greater than 32 billion euros ($38 billion) in fines, refits and authorized prices.

“The Supervisory Board of Volkswagen AG (OTC:) has drawn a line underneath its clarification course of and ended its investigation began in October 2015 into the causes of the diesel disaster and who was answerable for this,” Volkswagen mentioned.

“Because of this, the Supervisory Board determined at its assembly at the moment to say claims for damages towards the previous Chairman of the Group Board of Administration, Prof. Martin Winterkorn, and the previous Group Board of Administration member and Chairman of the Board of Administration of AUDI AG, Rupert Stadler, on account of breaches of the responsibility of care underneath inventory company legislation.”

Winterkorn’s legal professionals mentioned in a press release the previous CEO regretted the supervisory board’s resolution and rejected the accusations towards him.

“Mr Prof Dr Winterkorn is conscious that the supervisory board is obliged to evaluate potential claims and to probably assert them. He’ll subsequently search to make clear these questions in session with Volkswagen AG,” the assertion mentioned.

Stadler’s legal professionals couldn’t instantly be reached for remark.

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