German prosecutors have brought charges against Volkswagen AG CEO Herbert Diess, Chairman Hans Dieter Potsch and ex-CEO Martin Winterkorn for market manipulation relating to the "dieselgate" scandal.
Brunswick prosecutors indicted the trio with willfully concealing from investors for nearly two months that the company was being investigated by U.S. authorities before its exhaust emissions test cheating scandal became public.
Prosecutors have recommended charging Diess; Potsch; and the CEO at the time of the investigation, Winterkorn, who has now retired. A 636-page indictment has been filed with a court in Brunswick, which is considering the admissibility of the case.
Volkswagen's Frankfurt-traded shares were down 2.7% in early afternoon trading at €152.38.
