United States Securities and Exchange Commission v. Volkswagen Aktiengesellschaft
Opinion
Trial Court Opinion
IN THE UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF CALIFORNIA 7 IN RE: VOLKSWAGEN “CLEAN Case No. 19-cv-01391-CRB
DIESEL” MARKETING, SALES
PRACTICES, AND PRODUCTS
LIABILITY LITIGATION ORDER GRANTING AGREED
MOTION FOR ENTRY OF FINAL
JUDGMENT
11 This Document Relates to: 12 U.S. S.E.C. v. Volkswagen AG, No. 3:19- cv-1391-CRB. The Securities and Exchange Commission (“SEC”) and Defendant Volkswagen Group of America Finance, LLC (“Defendant”) reached a settlement and jointly move for entry of final judgment. For the reasons described below, the Court GRANTS the motion. I. BACKGROUND In 2019, the SEC brought a civil enforcement action alleging that Defendant, among others, perpetrated a massive fraud to mislead “United States investors, consumers, and regulators as part of an illegal scheme to sell its purportedly ‘clean diesel’ cars and billions of dollars of corporate bonds in the United States,” in violation of the Securities act of 1933 (“Securities Act”) and the Securities Exchange Act of 1934 (“Exchange Act”). See …