SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Volkswagen AG – VLKAY

NEW YORK, NY / ACCESSWIRE / September 21, 2015 / Pomerantz LLP is investigating claims on behalf of investors of Volkswagen AG (“Volkswagen” or the “Company”) (OTCQX: VLKAY). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.

The investigation concerns whether Volkswagen and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

On Friday, September 18, 2015, the United States Environmental Protection Agency (“EPA”) ordered a recall of some 482,000 Volkswagen and Audi diesel vehicles. The vehicles at issue contained “defeat devices” – i.e., “software that turns off emissions controls when driving normally and turns them on when the car is undergoing an emissions test,” thus permitting the vehicles to cheat emissions tests. On the road, the vehicles at issue emit as much as 40 times the level of pollutants allowed under clean air regulations. Volkswagen could face fines of as much as $37,500 for each recalled vehicle. On Sunday, September 20, Volkswagen admitted that the allegations were true and that it was actively cooperating with the EPA.

On this news, Volkswagen stock has fallen $34.65, or 21.48%, on Monday, September 21, 2015.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

SOURCE: Pomerantz LLC

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