Volkswagen Granted More Time by U.S. Justice Department to Test Compliance Programs

Date : 10/17/2019 @ 1:50PM
Source : Dow Jones News
Stock : Volkswagen AG (VOW3)
Quote : 171.62  -0.02 (-0.01%) @ 12:40PM

Volkswagen Granted More Time by U.S. Justice Department to Test Compliance Programs

Volkswagen (XE:VOW3)
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   By Max Bernhard 
 

Volkswagen AG (VOW.XE) said Thursday that is has been granted a 90-day extension by the Department of Justice and independent compliance monitor Larry D. Thompson to demonstrate that it has met its commitments under the terms of its 2017 diesel-emissions settlement.

"The agreement gives Volkswagen an additional 90 days to fully test and, where necessary, remediate the measures that the group and its brands have put in place, including recommendations from the monitor, in order for Thompson to certify the company's ethics and compliance programs," the German car maker said.

Volkswagen admitted in 2015 to having rigged some 11 million of its diesel vehicles world-wide with software that allowed them to dodge government emissions tests.

As part of the 2017 settlement, the company agreed to compliance reforms, under oversight of Mr. Thompson, a former deputy attorney general.

 

Write to Max Bernhard at max.bernhard@dowjones.com

 

(END) Dow Jones Newswires

October 17, 2019 09:35 ET (13:35 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.


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