Volkswagen Fined EUR 1.0 Billion by German Public Prosecutor; Maintaining EUR 230 FVE
No-moat-rated Volkswagen was fined EUR 1.0 billion by a German public prosecutor, including a maximum penalty of EUR 5 million and EUR 995 million disgorgement of economic benefits. The company’s press release referred to the prosecutor issuing an "administrative order" against the company for a breach of "monitoring duties" of the Powertrain Development department in the "context of vehicle tests" (the diesel crisis), resulting in the fine. Because of the nature of the fine, EU regulations prec...
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