The following article is based on my own interpretation of the said events. Any material borrowed from published and unpublished sources has been appropriately referenced. I will bear the sole responsibility for anything that is found to have been copied or misappropriated or misrepresented in the following post.
Mohit Kharkwal, MBA 2015-17, Vinod Gupta School of Management, IIT Kharagpur
Volkswagen will not the update about its scandal in the diesel emission in the coming week. Its is a reversal from the promise that the company made earlier. The reason stated by Volkswagen says that “citing unacceptable risk” we are not going to provide any further update at the moment. It goes on to say that this assessment is based on findings by a law firm in America called Sullivan and Cromwell and Jones Day, which the firm retains.
But still company has step aside a capital of around 18.2 billion dollars for the fines it foresee in near future. But company then goes on to say that disclosure at the moment could potentially prejudice the ongoing investigation and will jeopardise their credit line issues by US DOJ.
Critics are saying this is just a time buying tactic by the company to negotiate a deal with the justice department in exchange for its cooperation.