Autos

German court ends diesel case against Volkswagen CEO, Chairman

Key Points
  • CEO Herbert Diess and non-executive Chairman Hans Dieter Poetsch were accused of stock market manipulation for withholding market-moving information on rigged emissions tests.
  • VW in September 2015 admitted using illegal software to cheat U.S. diesel engine tests, battering its share price.
Volkswagen AG CEO Herbert Diess makes his way past members of the media as he arrives for a meeting between senior Trump administration officials and top executives of Daimler AG and Volkswagen and at the White House in Washington, December 4, 2018.
Kevin Lamarque | Reuters

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.

CEO Herbert Diess and non-executive Chairman Hans Dieter Poetsch were accused of stock market manipulation for withholding market-moving information on rigged emissions tests.

VW in September 2015 admitted using illegal software to cheat U.S. diesel engine tests, battering its share price. Prosecutors had accused Diess and Poetsch of a delay in informing investors of the company's wrongdoing.