A German court said on Wednesday it was ending proceedings against the chairman and chief executive of Volkswagen AG after the carmaker agreed to pay a fine of 9 million euros ($9.9 million) over the diesel emissions scandal.
FILE PHOTO: The VW logo is seen at the site of the first hearing of a consumer group's class action suit on behalf of Volkswagen owners against VW over the diesel emissions cheating scandal, at the Higher Regional Court in Braunschweig, Germany, September 30, 2019. REUTERS/Michele Tantussi/File Photo
CEO Herbert Diess and non-executive Chairman Hans Dieter Poetsch were accused of stock market manipulation for a delay in informing investors about the diesel scandal when it first came to light in 2015, and were each fined 4.5 million euros. Volkswagen already announced on Tuesday it was paying the fines for Diess and Poetsch, who in 2015 held positions as the head of VW brand and finance chief, respectively, as they did not violate any laws or their fiduciary duties toward VW.
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