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On July 28 a German court announced that it had opened proceedings against current and former Volkswagen managers - including management board members - on the suspicion that they had awarded excessive pay to labour leaders, in breach of their fiduciary duties. Wasting corporate funds is legally considered a breach of fiduciary duty in Germany. (Links via original reporting)
A regional court in Braunschweig, Lower Saxony, where the Volkswagen is based, said it had opened proceedings at the instruction of prosecutors in the area. In a statement, the Braunschweig court said that two former VW management board members are being investigated in addition to the current and former managers in charge of personnel. The Economic Times reports on the evolution of the case.
On July 28 a German court announced that it had opened proceedings against current and former Volkswagen managers - including management board members - on the suspicion that they had awarded excessive pay to labour leaders, in breach of their fiduciary duties. Wasting corporate funds is legally considered a breach of fiduciary duty in Germany. (Links via original reporting)
A regional court in Braunschweig, Lower Saxony, where the Volkswagen is based, said it had opened proceedings at the instruction of prosecutors in the area. In a statement, the Braunschweig court said that two former VW management board members are being investigated in addition to the current and former managers in charge of personnel. The Economic Times reports on the evolution of the case.