Compliance Perspectives: Volkswagen's Transformation
Daily Compliance News: March 3, 2020, the Devil’s Advocate edition
Compliance into the Weeds-Episode 62, Sentencing of VW Employee Oliver Schmidt
Day 20: What Does Innovation in Compliance Look Like?
Customs and Border Protection Impounds Thousands of Volkswagen Vehicles - On February 14, 2024, it was reported that U.S. Customs and Border Protection (“CBP”) had impounded thousands of Volkswagen Group’s (“Volkswagen”)...more
We write to alert you to a recent development on one of the topics discussed at the Bodman/Kharon/Miller & Chevalier Executive Briefing on Emerging Legal and Regulatory Issues Facing Automotive Companies held on May 23, 2023....more
Rhode Island Federal Court Dismisses Securities Class Action Against CVS Arising From Statements Made After Omnicare Acquisition; SEC Division of Corporation Finance Suggests Companies Issue Additional Disclosures When...more
Walgreens has named Starbucks exec Roz Brewer as its new CEO. The move sets up Brewer to be “the only Black female leading a Fortune 500 company”...more
Federal authorities are prepping to “reprimand Citigroup Inc. for failing to improve its risk-management systems—an expansive set of technology and procedures designed to detect problematic transactions, risky trades and...more
It is not uncommon for various government agencies and offices to investigate the same company, particularly following a major scandal. We have grown accustomed to seeing simultaneous investigations by the U.S. Department of...more
McDermott’s Annual European Competition Review summarizes key developments in European competition rules. During the previous year, several new regulations, notices and guidelines were issued by the European Commission. There...more
We Work’s largest investor, SoftBank, is reportedly sketching out plans in which it would drop billions of additional money on the company in return for giving Masa Son control of WeWork “and further sidelin[ing] its founder...more
Lots more details on what turned out to be something of a bloodbath for Deutsche Bank employees around the world, with the bank starting to make good yesterday on its plans to cut nearly 18,000 employees worldwide – NYTimes...more
True, the economic headwinds weren’t its fault, but boy—not a banner debut for Uber after years of speculation and waiting....more
The recent SEC enforcement action against Volkswagen AG and its former CEO illustrates the securities law consequences of operational wrongdoing. As described by the SEC, from at least 2007 through 2015, Volkswagen sold...more
Just days after Facebook announced its shift to more private communications, the company’s chief product officer (and longtime Zuck inner-circler) Chris Cox and WhatsApp head Chris Daniels are both heading out the door,...more
In January 2019, the US Attorney for the Eastern District of Michigan returned an indictment against four executives from Audi, a Volkswagen subsidiary, for their participation and direction of Audi’s emissions-cheating...more
Markets took a beating yesterday, with investors apparently put off by tech stocks, tensions with China, a recent jump in interest rates and government bond yields, and a tightening Fed monetary policy....more
OMB official Kathleen Kraninger is likely to face serious questions as she takes to the Hill today to begin confirmation hearings for her surprise nomination to lead the Consumer Financial Protection Bureau. Why? Her lack of...more
While much has been made of U.S. EPA’s alleged scaling back of enforcement on various fronts and other policy changes, a wave of enforcement against mobile source engines appears ready to break on the heavy-duty diesel...more
After more than 110 years as one of its mainstays, General Electric is out of the Dow Jones Industrial Average. It will be replaced by drugstore retailer Walgreens Boots Alliance....more
More than 3 years after admitting to cheating on diesel emissions tests, Volkswagen appears poised to oust CEO Matthias Muller—likely in favor of former BMW exec Herbert Diess....more
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
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
As we look across the corporate governance landscape and focus on the spikes of corporate scandals, I started to wonder if there was any pattern or trend to the nature of corporate scandals....more
Just when we thought 2016 was over and we could all breathe a sigh of relief, DOJ and the SEC have continued to run with a string of new enforcement actions. To all of those prognosticators, paparazzi, commentators, chicken...more
The headlines generated by the Volkswagen emissions scandal continue to amaze the environmental community and the general public, both here and abroad. The events are shocking in part because they involve a household name in...more
"Wherefore Art Thou Due Process?" Part III - Why it matters: It is time for another installment in our continuing "Wherefore Art Thou Due Process?" coverage into the ongoing constitutional challenges to the SEC's...more
Last week, on September 18, 2015, the EPA issued a News Release revealing that Volkswagen Group of America (“Volkswagen”) sold cars incorporating a “defeat device” as defined in the Clean Air Act (“CAA”) to purposefully evade...more