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Volkswagen Won’t Publish Emissions Probe Findings

The Volkswagen Group will not publish the findings of a wide-ranging investigation of its business conducted by US law firm Jones Day in the wake of the diesel emissions scandal, said Hans Dieter Pötsch, Chairman of the Supervisory Board, at the automaker’s Annual General Meeting on Wednesday.

The announcement was made following calls Tuesday from investment firm, Hermes EOS, to publish the results of the Jones Day investigation that was commissioned by VW.

“To be clear: there is no written final report from Jones Day, nor will there be,” said Pötsch. “I ask for your understanding that for legal reasons Volkswagen is prevented from publishing any such report.”

Pötsch argued that to publish the findings of the Jones Day investigation would contravene its settlement agreement with the US Justice Department. Both entities agreed to use a “statement of facts” in the agreement, which VW agreed not to contradict.

“In this settlement agreement Volkswagen has undertaken certain obligations,” said Pötsch. “For example, not to say anything that is in contradiction with the facts and circumstances that are set out in the statement of facts. In the interest of Volkswagen, we must and we will fulfill these obligations because we will otherwise risk more heavy fines. To publish a final report would be indefensible.”

A shareholder rights advocate, though, argued that VW could publish the findings if the Justice Department okayed them and demanded that VW management “put all their cards on the table,” reports Automotive News.

Ultimately, VW still looks strong in its resolve not publish the findings, despite the calls from investors. As Pötsch points out, “it’s altogether customary practice not to publish a final report.”

The post Volkswagen Won’t Publish Emissions Probe Findings appeared first on VWVortex.



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