Lundin Law PC announces it is investigating claims against Volkswagen AG (“Volkswagen” or the “Company”) (OTC: VLKAY, VLKPY, VLKAF) concerning possible violations of federal securities laws between November 19, 2010 and September 21, 2015. The investigation is related to allegations that certain statements issued by Volkswagen were false and misleading concerning the Company’s financial performance.
The investigation will focus on whether the Company made misleading statements and/or failed to disclose that: (1) Volkswagen had utilized a “defeat device” in certain of its diesel cars that allowed such cars to temporarily reduce emissions during testing, while achieving higher performance and fuel economy and discharging dramatically higher emissions when testing was not being conducted; and (2) the use of this device allowed Volkswagen to market its diesel vehicles to environmentally conscious consumers, which increased its sale of diesel cars in the United States and abroad and its profitability.
No class has been certified in the above action. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
Lundin Law PC was created by Brian Lundin, a securities litigator based in Los Angeles.
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Brian Lundin, Esq.