OTC: VWAGY / OTC: VLKAF / OTC: VWAPY Investor Notice: Update in Lawsuit against Volkswagen AG announced by Shareholders Foundation

SAN DIEGO, March 04, 2020 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain investors in Volkswagen AG (OTC: VWAGY) (OTC: VWAPY) shares.

Investors, who purchased shares of Volkswagen AG (OTC: VWAGY) (OTC: VLKAF) (OTC: VWAPY), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On September 25, 2015, a lawsuit was filed against Volkswagen AG (alleged securities laws violations. The plaintiff claimed that the defendants misled investors by failing to disclose that the Company 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, as well as discharging dramatically higher emissions, when testing was not being conducted. The use of this device allowed Volkswagen to market its diesel vehicles to environmentally conscious consumers, increasing its sale of diesel cars in the United States and abroad and, as a result, its profitability. As a result of defendants’ scheme and false and misleading statements and omissions, Volkswagen’s ordinary and preferred ADRs traded at artificially inflated prices, reaching highs of $54.82 and $56.55 per ADR, respectively, on December 30, 2013.

The Company pled guilty to criminal charges, paid a $2.8 billion criminal fine, a $2.7 billion fine for environmental mitigation, another $2 billion for clean-emissions infrastructure, while total costs associated to rectifying the emissions issue have exceeded $18 billion.

Those who purchased Volkswagen AG (OTC: VWAGY) (OTC: VLKAF) (OTC: VWAPY) shares should contact the Shareholders Foundation, Inc.

CONTACT:
Shareholders Foundation, Inc. 
Michael Daniels 
+1 (858) 779-1554 
mail@shareholdersfoundation.com 
3111 Camino Del Rio North 
Suite 423 
San Diego, CA 92108

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon. 

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