News & Analysis as of

Volkswagen Automotive Industry

Justice Department Charges Former Volkswagen CEO in Diesel Vehicle Emissions Cheating Scheme

by Michael Volkov on

We all know the saying – A fish rots from the head. Sometimes a clear and simple statement says it all. The Volkswagen diesel emissions cheating scandal is yet another example of C-Suite, even CEO, misconduct....more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The DOJ has charged former VW chief exec Martin Winterkorn (and 5 others) with conspiring to defraud the US government in Volkswagen’s “yearslong effort to rig its diesel vehicles to feign compliance with federal emissions...more

The State AG Report Weekly Update May 2018 #1

by Cozen O'Connor on

2018 State AG Elections- Democrat Tatewin Means Announces Candidacy for South Dakota Attorney General- Democrat Tatewin Means announced her bid for South Dakota AG in 2018....more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

As we anticipated, the Fed held pat on rates yesterday, acknowledged rising inflation but betrayed little concern about it, and gave no signs of moving away from plans to next raise rates in June....more

What Makes These the Five Safest Cars on Chicago’s Roads?

by Howard Ankin on

According to the Insurance Institute for Highway Safety (IIHS) who studies auto fatality rates, 15 passenger cars and SUV models have recently been reported as the safest cars on the road today. ...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Breakingviews on what the White House’s intervention into Broadcom’s [dropped] bid for Qualcomm could mean for the US-based chip maker. [Hint, it involves China, and it’s not great for the big Q]....more

Northern District Of California Applies Second Circuit's Waggoner Decision, Dismissing "Defeat Device" Claims Against Volkswagen...

by Shearman & Sterling LLP on

On March 2, 2018, Judge Charles R. Breyer of the United States District Court for the Northern District of California granted defendants’ request for reconsideration of a motion to dismiss a putative class action brought...more

Criminal Enforcement Against Senior Executives: The Fish Rots from the Head

by Michael Volkov on

The compliance community is well aware of the risks in the C-Suite. As you move up the corporate ladder, the level of risk from executive misconduct increases. A rotten executive can quickly bring down a company, destroy...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

ECB Chief Mario Draghi’s having none of the US Treasury Secretary’s recent weak-dollar talk, accusing the US official, in not so many words, of “violating agreements among nations against starting currency wars”....more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The latest on the potential Disney move for “significant parts of 21st Century Fox,” which is nearing completion and could see Murdoch scion leaving his father and brother in order to work for Big Mouse....more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

A federal jury in Brooklyn has found former HSBC Holdings exec Mark Johnson guilty on 9 counts of front-running that grew out of the DOJ’s investigation into forex manipulation at HSBC....more

Volkswagen Settlement Offers Funding For Clean Transportation Upgrades

by McCarter & English, LLP on

Local governments and businesses considering investments in clean transportation projects may find funding opportunities resulting from partial settlements in the Volkswagen “clean diesel” emissions litigation. The U.S....more

Dieselgate: Bringing a Face to Scandal Impacting Volkswagen Owners

A Volkswagen manager pleaded guilty to conspiracy and violating the Clean Air Act and could get seven years in prison. A Volkswagen engineer who agreed to testify against the Volkswagen manager was sentenced to three years in...more

Volkswagen Settlement Provides Funding Opportunities For Electric Utilities

by McCarter & English, LLP on

The U.S. Department of Justice has asked the federal district court in the Volkswagen “clean diesel” emissions litigation to approve a long-awaited environmental mitigation trust agreement. The approval of the trust agreement...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

So much for the quiet off-ramping for SoFi’s Mike Cagney. The fintech company’s board announced on Friday that Cagney is out immediately as CEO, not at the end of the year as Cagney had announced earlier in the week....more

Tales from the Corporate Scandal Crypt: GM, VimpelCom, VW and Wells Fargo

by Michael Volkov on

We are fascinated by corporate scandals. Since the 1980s, the US public has enjoyed unraveling corporate scandals, and vilifying corporate leaders caught in the web of deceit and misconduct. I am sure there are historical...more

Car manufacturers' annus horribilis - Takata airbags and the ACCC's enforcement focus

by DLA Piper on

It is a tumultuous time for Australian car manufacturers. - The ACCC (the Australian competition, antitrust and consumer law regulator) released its draft study report into the new car retailing industry earlier this...more

German Auto Antitrust Cartel – A Record Enforcement Action Begins

by Michael Volkov on

Just when you thought it could not get any worse, events remind us that things actually can get worse. Volkswagen suffered through a horrible scandal involving an elaborate scheme to circumvent emissions regulations. The...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

A nearly $5 billion deal between French energy company Total and the oil and gas arm of Danish shipping giant Maersk is making waves this morning. Total will also assume a few tankers-full of Maersk Oil’s debt....more

Class Action Alleges Antitrust Conspiracy Among “Circle of Five” German Automakers

On July 28, 2017, a group of plaintiffs filed a putative class action in the Northern District of California against BMW, Volkswagen, Audi, Porsche, Daimler, and Mercedes-Benz, as well as auto-parts manufacturer Robert Bosch....more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The DOJ is dismissing charges against former JPMorgan employees allegedly mixed up in the London Whale trading scandal that cost JPM more than $6 billion....more

Northern District of California Partially Dismisses "Defeat Device" Claims Against Volkswagen For Failure to Plead Scienter

by Shearman & Sterling LLP on

On July 19, 2017, Judge Charles R. Breyer of the United States District Court for the Northern District of California partially dismissed a putative class action against Volkswagen Aktiengesellschaf (“VW AG”), Volkswagen...more

Northern District Of California Partially Dismisses Securities Claims For Failure To Sufficiently Allege Misstatements And Control...

by Shearman & Sterling LLP on

On June 28, 2017, Judge Charles R. Breyer of the United States District Court for the Northern District of California ruled, among other things, that allegations of knowledge of “defeat devices” did not equate to knowledge of...more

“Too Important to Jail,” the Yates Memorandum and FCPA Criminal Prosecutions

by Michael Volkov on

The Justice Department’s continuing lack of individual criminal prosecutions in the FCPA arena continues to raise serious questions. DOJ’s issuance of the Yates memorandum was seen as a new and important reiteration of DOJ’s...more

Volkswagen Announces Major Steps Toward Electrifying Its Vehicle Fleet

by Foley & Lardner LLP on

While fans of electrifying rides got a boost from the box office this week, fans of electrified rides are living in exciting times as well....more

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