(Bloomberg) – Volkswagen AG is facing new lawsuits by New York and at least two other states that might cost the company hundreds of billions of dollars for cheating on pollution-control tests.
The suits include claims that former VW Chief Executive Officer Martin Winterkorn and other top company executives orchestrated an elaborate coverup when the scam came to light, New York Attorney General Eric Schneiderman said. New York's complaint was filed Tuesday in state court in Albany, the attorney general said.
"This was a widespread conspiracy involving many, many people," Schneiderman said at a press conference. "The top brass knew" they were in violation of state and federal laws, he said.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
