Two documents show that Martin Winterkorn, chief executive of Volkswagen in 2015, was informed about Dieselgate sooner than he has admitted.
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Nearly 229,000 newer Ram pickup trucks in North America are being recalled due to the risk the vehicles could shift out of park without the ignition engaged or a foot on the brake. The Associated Press reports this recall is in addition to a December 2017 one that included 1.8 million Ram pickup trucks for the same issue.
Almost a decade after the Ponzi scheme collapsed, trustees are still returning money to the victims. When bankruptcy trustees were appointed over a hectic weekend late in 2008, there seemed no end to the losses caused by the collapse of Bernie Madoff's Ponzi scheme. Cash in the bank was no more than $150m. But the losses have been less, and the assets available for compensation greater, than had been feared.
According to the Securities and Exchange Commission, Mr. Shapiro was actually operating the company as a $1.2 billion Ponzi scheme, in which storied estates like Owlwood were a lure to draw investors.
Two major recalls were announced this weekend, with Hyundai and Toyota calling back approximately 110,000 trucks and SUVs in the United States.
Congress should investigate new allegations that Volkswagen AG diesel cars were sold overseas with rigged software after the company's $14.7 billion settlement of a cheating scandal in the U.S., a Republican lawmaker said Wednesday.
Curious about the world's most — and least — corrupt countries? On Wednesday Transparency International, a well-known NGO devoted to global anti-corruption, released its annual scorecard. TI's Corruption Perceptions Index shows the United States now sits in 16th place (of 180 territories), with a score of 75 out of 100. That's a small improvement on the 2016 index in which the United States was 18th with a score of 74.
The current-generation Chevrolet Corvette Z06 is sold as a 650-horsepower supercharged track weapon, yet that hasn't been the case for owners who have had the car go into limp mode on track. More Z06 owners have brought a fourth class-action lawsuit against General Motors over this issue, complete with claims that a 2017 redesign didn't fix the problem.
A GM Duramax lawsuit will move forward after a U.S. District judge in Michigan found enough evidence to support claims that more than 700,000 model year 2011-2016 Chevrolet Silverado 2500 and 3500 and GMC Sierra 2500 and 3500 diesel trucks may have been equipped with devices to cheat emissions tests.
Why are these record awards good news for consumers and investors? First, the fact that record whistleblower awards are coming out of Washington is strong confirmation that fears our federal regulatory agencies would cease to vigorously enforce the laws are overblown at least with respect to the financial markets.
JPMorgan Chase & Co.'s failure to properly inform some rich clients about conflicts of interest has resulted in a record $30 million whistleblower award by U.S. futures regulators.
On the same day that people linked to the three politically connected Gupta brothers were granted bail by a South African court after appearing on graft charges, one of the siblings, Ajay Gupta, was declared a fugitive.
Toyota Motor North America is recalling 21,700 vehicles in the U.S. after discovering two defects that could lead to fires. The separate recalls affect 11,800 2018 Toyota Camry sedans and 9,900 Lexus vehicles including, RC F vehicles from 2015-18 model years, GS F vehicles from 2016-18 model years, and 2018 LC 500 vehicles, the company said Wednesday.
The CBOE Volatility Index, known as the VIX, has been "suspect for at least seven years," says Bart Chilton, former CFTC commissioner. The whistleblower allegation of VIX manipulation "rings true to me," Chilton says.
Consumers in Germany and Ireland trying to hold carmaker Volkswagen AG and auto parts supplier Bosch GmbH liable for the manipulation of diesel engine emissions data will not be able to rely on documents produced by Bosch in U.S. litigation, a U.S. judge ruled on Monday.
This time, there are 39,456 2017 Jeep Wranglers and Dodge Caravan RTs being recalled due to a faulty brake pedal switch that may allow vehicles to be shifted out of Park without the brake pedal being depressed and may leave the brake lights illuminated continually.
Philanthropic heirs to OxyContin fortune have a 'moral duty to help make this right' says the widow of one of Purdue Pharma's founders The Sackler Drug Rehab Facility, unlike the prestigious Sackler art galleries of New York and London does not exist. Yet. If lawyers have their way, however, or public opinion pricks a few consciences, it may soon.
Consumers from Massachusetts today filed a class-action lawsuit against Nestle for allegedly regularly importing cocoa beans from suppliers in the Ivory Coast using the worst forms of child labor as recognized by the UN, including dangerous child labor and the slave labor of trafficked children, according to Hagens Berman.
Ford Motor Co on Monday warned an additional 33,000 owners of older pickup trucks in North America to stop driving them until potentially defective Takata Corp air bag inflators can be repaired.
Authorities are trying to figure out why the carmaker allegedly shipped thousands of vehicles to Asia all with the same identification number.
Prosecutors raided carmaker Audi again earlier this week, not just because of its role in Dieselgate, but instead on the hunt for documents regarding the possible shipment of thousands of Audi vehicles to Asia with the same vehicle identification number, or VIN.
