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6 months ago
Volkswagen board expected to meet to approve U.S. diesel settlement
January 10, 2017 / 3:18 PM / 6 months ago

Volkswagen board expected to meet to approve U.S. diesel settlement

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DETROIT, Jan 10 (Reuters) - Volkswagen AG's supervisory board is set to meet on Wednesday to approve a civil and criminal settlement with the U.S. Justice Department that will include a penalty of about $4 billion, sources briefed on the matter said Tuesday.

The deal, which is expected to include a guilty plea by the German automaker or one of its corporate entities for its conduct in misleading regulators about diesel emissions, comes as the automaker seeks to move past its "Dieselgate" scandal. As part of a settlement VW would have to agree to significant reforms and will face oversight by an independent monitor. The company declined to comment. (Reporting by David Shepardson in Detroit; Editing by Chizu Nomiyama)

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