Market manipulation probe on Volkswagen CEO, chairman

The scandal has cost it 22.6 billion euros ($24.6 billion) in fines and other expenses so far

Volkswagen AG’s top two managers are being investigated over allegations of market manipulation, deepening the carmaker’s legal woes in connection with the diesel scandal.
 
Chief Executive Officer Matthias Mueller and Chairman Hans Dieter Poetsch — along with former CEO Martin Winterkorn —are being probed by Stuttgart prosecutors over whether they were too slow in telling Porsche SE shareholders about Volkswagen’s emissions cheating, said a person familiar with the matter, who asked not to be identified. Porsche owns the majority of Volkswagen’s voting stock, and the men at the time had dual roles at the holding company and Volkswagen.