Prosecutors in Braunschweig, Germany are investigating the former VW CEO Martin Winterkorn and one other senior exec over suspected market manipulation relating to the diesel emissions scandal.
Winterkorn quit his job last September the day after VW admitted that 11 million cars had rigged systems which let them pass emission tests.
He apologised and said he took full responsibility for the scandal, but denied any personal wrongdoing.
Now the prosecutor’s office said the probe centred on “sufficient real signs” that VW’s duty to disclose possible financial damage of its manipulation may have arisen before 22 September last year with the truth spilled out.
VW’s annual report issued on 28 April claimed it was last summer when the company realised that the devices to reduce emissions may have violated US environmental law and that it failed to grasp the potential impact scandal until then.
The annual meeting of shareholders is set for Wednesday. Analysts believe that angry shareholders will challenge the company’s management.
