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Porsche bosses under investigation over their role in the VW emissions scandal

by
17th May 17 1:49 pm

What does this mean?

Two Porsche bosses are currently being probed due to their role in Volkswagen’s emissions scandal.

German prosecutors suspect that the two executives, Matthias Mueller and Hans Dieter Poetsch, may have delayed releasing information to investors.

Porsche is owned by VW and it saw profits take a hit after the emissions cheat system was exposed.

Mueller, boss of Porsche SE and chairman of VW will be questioned by prosecutors in Stuttgart.

Poetsch, the former boss and now chief executive of VW, will also be interviewed.

Executives are expected to update investors as soon as price sensitive information comes to light or they will risk accusations of market manipulation.

Porsche SE has said the allegations are unfounded and it added that it had complied with disclosure rules.

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