German court ends diesel case against Volkswagen CEO and Chairman

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A German court stated on Wednesday it was putting the proceedings against the chairman and chief executive of Volkswagen AG to an end after the automaker agreed to pay a fine of 9 million euros ($9.9 million) with concerns about the diesel emissions scandal.

CEO Herbert Diess and non-executive Chairman Hans Dieter Poetsch were alleged of stock market manipulation for a delay in telling investors about the diesel scandal when it was first revealed in 2015, and were each fined 4.5 million euros.

The automaker in September 2015 admitted using illegal software to evade U.S. diesel engine tests, dropping its share price.

Volkswagen already declared on Tuesday it was paying the fines for Diess and Poetsch, who in 2015 were heading as the head of Volkswagen brand and finance chief, as they did not breach any laws or their fiduciary duties toward the automaker.

The court said the case against the CEO of the time during scandal, Martin Winterkorn, is still pending on charges of fraud and other allegations.

The scandal has so far cost Volkswagen more than 30 billion euros in damages and regulatory fines, much of it was imposed in the United States.

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