VW says headquarters searched again by prosecutors in emissions case

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Volkswagen said on Tuesday that its global headquarters were searched again by German prosecutors in early March as part of an investigation into its diesel emissions scandal, confirming a magazine report.

WirtschaftsWoche reported earlier on Tuesday that state prosecutors had started fresh inquiries into suspicions of market manipulation at Volkswagen (VW) to determine whether VW had understated carbon dioxide emissions (CO2) on more cars than it had publicly admitted.

Authorities from the city of Braunschweig searched 13 offices in the nearby VW headquarters in Wolfsburg at the start of March, seizing documents and computer files that will now be reviewed over the next few weeks, WirtschaftsWoche cited a spokesman for the investigators as saying.

Volkswagen sign is seen during the annual earnings news conference of VW in Berlin, Germany, March 13, 2018. /Reuters Photo

The authorities said they were checking a statement issued by VW on December 9, 2015 over suspicions its contents were not correct and whether it, therefore, represented a case of market manipulation.

VW shares did not react to the news of new searches and were trading up 0.4 percent at 160.2 euros at 0827 GMT.

VW said in December 2015 that its own investigations found it had understated fuel consumption, and hence CO2 emissions, on no more than 36,000 vehicles. That was much lower than its own preliminary estimate of around 800,000 vehicles disclosed five weeks earlier.

It also said it had found no evidence of unlawful alterations to CO2 emissions data, providing some relief as it battled the fallout from emissions cheating revealed by US regulators in September 2015.

WirtschaftsWoche quoted VW as saying that it believed it met the requirements for such regulatory statements.

A VW spokesman merely confirmed that latest searches in Wolfsburg but declined further comment. The prosecutor's office in Braunschweig was not immediately available to comment when contacted by Reuters.

Source(s): Reuters