The Securities and Exchange Commission (SEC) has obtained final judgment by consent against defendant Volkswagen Group of America Finance, LLC (VWGOAF), which the SEC had charged in 2019 with making false and misleading statements in connection with its 2014 and 2015 offerings of billions of dollars of corporate bonds.
VWGOAF is the financing subsidiary of Volkswagen Group of America, Inc.
The SEC’s complaint, filed on March 14, 2019, alleges, among other things, that from April 2014 to May 2015, VWGOAF issued more than $8 billion in bonds in the U.S. markets at a time when senior Volkswagen executives knew that more than 500,000 of their vehicles in the United States grossly exceeded legal vehicle emissions limits, exposing the company to massive financial and reputational harm.
The complaint alleges that VWGOAF made false and misleading…
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