VW rejects allegations regarding info release

Posted at 1:14 PM, Mar 02, 2016

BERLIN (AP) — Volkswagen is rejecting allegations that it didn't go public early enough with information on its emissions-rigging scandal.

The company, which faces lawsuits at a court in Braunschweig, Germany, says Wednesday it "considers the German shareholder lawsuits to be without merit."

News of the scandal broke Sept. 18 when the U.S. Environmental Protection Agency said Volkswagen had installed software on 482,000 cars that enabled them to cheat on emissions tests. On Sept. 22, Volkswagen said about 11 million diesel vehicles worldwide were fitted with the software.

VW said until Sept. 18, "there were no indications whatsoever of information with relevance for the stock price" since only a "manageable" number of vehicles was believed to be affected. It said it "promptly" reported the global risks once it had a "reliable data basis."