VW CEO Diess, Chairman Poetsch Settle Market-Manipulation Case

Volkswagen AG Chief Executive Officer Herbert Diess and Chairman Hans Dieter Poetsch settled a German market-manipulation case that had alleged they informed markets too late about the diesel-emission rigging.

Both men agreed to pay 4.5 million euros ($4.9 million) to end the criminal case in a court in Braunschweig, the supervisory board Tuesday said in a statement. Prosecutors charged the pair alongside former CEO Martin Winterkorn last year alleging they informed the market too late about the U.S. probe into the manipulation of diesel engines.

“The supervisory board welcomes the fact that Mr. Poetsch and Dr. Diess took the opportunity ...