Volkswagen has announced that it will no longer release an interim report of its diesel scandal investigation.
According to a statement released by the German automaker, it has recognized “that a disclosure of interim results of the investigation at this point in time would present unacceptable risks for Volkswagen and, therefore, cannot take place now.” The company says the decision was made based on the assessment of its U.S. law firms, Sullivan & Cromwell and Jones Day. Both strongly advised against such a disclosure.
Approximately 65 million documents have been submitted for electronic review as part of the diesel scandal investigation and more than 10 million were forwarded for review by Volkswagen’s lawyers. The company added that around 450 interviews have been conducted on dieselgate and dozens of additional interviews are planned. Currently, Jones Day expects the investigation to conclude in the fourth quarter of 2016.
Volkswagen originally planned on disclosing interim results of the investigation by the end of April. It believes that releasing the interim results at this time would likely prejudice the rest of the investigation as it continues to work with multiple U.S. regulators including the Environmental Protection Agency (EPA), the California Air Resources Board (CARB), the Federal Trade Commission, the Attorneys General of each of the 50 states and the U.S. Department of Justice.
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