Volkswagen, Audi Arrive At $85M Settlement With Texas
Portfolio Pulse from Shivani Kumaresan
Volkswagen AG (OTC:VWAGY) and Audi have reached an $85 million settlement over violations of Texas environmental laws, related to the use of illegal emission-evading technology. This comes after the Texas Supreme Court ruled in May that the state environmental lawsuit against the companies could proceed.
May 26, 2023 | 11:52 am
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Volkswagen AG (OTC:VWAGY) has reached an $85 million settlement with Texas over environmental law violations, which may have a short-term negative impact on the stock price.
The $85 million settlement is a significant financial burden for Volkswagen, and the negative news related to the environmental law violations may cause investors to react negatively, leading to a short-term decline in the stock price.
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