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Name | Symbol | Market | Type |
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Porsche Automobile Holding SE (PK) | USOTC:POAHY | OTCMarkets | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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0.0449 | 1.07% | 4.2599 | 4.20 | 4.34 | 4.29 | 4.24 | 4.27 | 328,904 | 21:15:54 |
By Anne Steele
The U.S. Department of Justice on Monday filed suit against Volkswagen AG, alleging it installed illegal emissions defeat devices in nearly 600,000 diesel-engine vehicles.
The civil complaint, filed on behalf of the Environmental Protection Agency, alleges the German auto maker violated the Clean Air Act by making and selling vehicles that were designed differently from what Volkswagen had stated in applications for certification to the EPA and another regulator, the California Air Resources Board.
A spokesperson for Volkswagen acknowledged the suit and said it will "continue to work cooperatively with the EPA on developing remedies to bring the...vehicles into full compliance with regulations as soon as possible."
The defeat devices impair vehicle emission-control systems, causing vehicles to exceed the EPA's standards.
The civil complaint civil complaint was filed federal court in Detroit against Volkswagen AG, Audi AG, Volkswagen Group of America Inc., Volkswagen Group of America Chattanooga Operations LLC, Porsche AG and Porsche Cars North America Inc.
The U.S. "will pursue all appropriate remedies against Volkswagen to redress the violations of our nation's clean air laws alleged in the complaint," said Assistant Attorney General for the Justice Department's Environment and Natural Resources Division, John Cruden.
Write to Anne Steele at Anne.Steele@wsj.com
(END) Dow Jones Newswires
January 04, 2016 14:46 ET (19:46 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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