Volkswagen to Pay SEC $48.8 Million in Emissions Cheating Suit

A financial subsidiary of Volkswagen AG agreed to pay $48.8 million to settle claims that it defrauded American investors by installing emissions cheating devices in its vehicles, according to an agreement with the SEC.

The auto manufacturer will be permanently restrained and enjoined from violating securities laws that prohibit companies from using devices or schemes to make untrue statements or omit facts from investors, according to the consente decree with Volkswagen Group of America Finance LLC.

The US Securities and Exchange Commission claimed that VW repeatedly lied to and misled US investors, consumers, and regulators ...