Investment company behind Porsche told it cannot continue to retain information

A German court has ordered Porsche SE, the investment company behind Porsche, to reveal whether it believes documents were destroyed when the Dieselgate scandal broke.

According to Automotive News Europe, Porsche SE’s board must answer five questions relating to what was known of Volkswagen Group emissions cheat practices before they were exposed in September 2015.

The information is vital in several ongoing legal cases with investors, who claim that they are entitled to billions of euros in damages. Both the VW Group and Porsche SE have refrained from answering questions related to this because of what they called “ongoing investigations”, the largest of which is led by law firm Jones Day.

"Citing the investigation by Jones Day is no valid argument to deny the information, because hiring an external law firm normally doesn't oblige the client to confidentiality," said the judges. "The right of shareholders to information may not be foiled by citing external investigations."

Judges have also accused the two companies of not taking enough action to prevent employees from destroying documents that would have been vital to the US legal case.

In the ongoing US case, a Volkswagen diesel engineering boss, James Liang, was sentenced to prison for 40 months for his involvement in the scandal. So far, eight high-ranking executives have been charged.

More content:

Our Verdict

Porsche Cayenne

The third-generation Porsche Cayenne has more tech, more power and a new chassis, but is it enough to make it the best SUV on sale?

Join the debate

Comments
1

12 January 2018
Justice delayed...

Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week

  • Vauxhall VXR8 GTS-R
    Car review
    12 January 2018
    Vauxhall bids farewell to its line of Aussie performance legends in some style with the limited edition VXR8 GTS-R
  • Alfa Romeo Stelvio
    Car review
    12 January 2018
    Alfa Romeo’s first SUV aims to hoist the handling panache of the Giulia saloon
  • Volkswagen Polo 1.0 TSI
    First Drive
    11 January 2018
    Sixth-generation Volkswagen Polo arrives in the UK with a emphasis on safety and refinement. Could that be enough to see it become supermini king?
  • Skoda Karoq 1.6 TDI 115 SE
    First Drive
    11 January 2018
    The smaller Skoda Karoq diesel is a sensible choice, if a little underpowered; even in base SE trim, though, you're unlikely to be left wanting for kit
  • Toyota Yaris GRMN
    First Drive
    10 January 2018
    First new-breed Toyota hot hatch is expensive but within sight of its best-handling rivals. Troubled in some ways, but appealingly honest, engaging, characterful and different