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Investigation for Long-Term Investors in shares of Volkswagen AG (OTC: VWAGY / OTC: VLKAF / OTC: VWAPY) announced

05-27-2020 11:48 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of investors in Volkswagen AG (OTC: VWAGY / OTC: VLKAF / OTC: VWAPY) shares over potential wrongdoing.

An investigation on behalf of investors in Volkswagen AG (OTC: VWAGY / OTC: VLKAF / OTC: VWAPY) shares over potential wrongdoing.

An investigation on behalf of current long-term investors in shares of Volkswagen AG (OTC: VWAGY / OTC: VLKAF / OTC: VWAPY) was announced over potential breaches of fiduciary duties by certain officers and directors at Volkswagen AG.

Investors who purchased shares of Volkswagen AG (OTC: VWAGY / OTC: VLKAF / OTC: VWAPY) and currently hold any of those Volkswagen AG shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain Volkswagen AG (directors breached their fiduciary duties and caused damage to the company and its shareholders.

On September 25, 2015, a lawsuit was filed against Volkswagen AG (alleged securities laws violations. The plaintiff claimed that the defendants misled investors by failing to disclose that the Company had utilized a "defeat device" in certain of its diesel cars that allowed such cars to temporarily reduce emissions during testing, while achieving higher performance and fuel economy, as well as discharging dramatically higher emissions, when testing was not being conducted. The use of this device allowed Volkswagen to market its diesel vehicles to environmentally conscious consumers, increasing its sale of diesel cars in the United States and abroad and, as a result, its profitability. As a result of defendants' scheme and false and misleading statements and omissions, Volkswagen's ordinary and preferred ADRs traded at artificially inflated prices, reaching highs of $54.82 and $56.55 per ADR, respectively, on December 30, 2013.

The Company pled guilty to criminal charges, paid a $2.8 billion criminal fine, a $2.7 billion fine for environmental mitigation, another $2 billion for clean-emissions infrastructure, while total costs associated to rectifying the emissions issue have exceeded $18 billion.

Those who purchased shares of Volkswagen AG (OTC: VWAGY) (OTC: VLKAF) (OTC: VWAPY), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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