Glass Lewis urges investors to keep pressure on Volkswagen over dieselgate

imageStock Markets45 minutes ago (Jul 01, 2021 12:06PM ET)

(C) Reuters. FILE PHOTO: A Volkswagen logo is seen as it launches its ID.6 and ID.6 CROZZ SUV at a world premiere ahead of the Shanghai Auto Show, in Shanghai, China April 18, 2021. REUTERS/Aly Song

FRANKFURT (Reuters) – Shareholder advisory firm Glass Lewis is recommending to vote against ratifying the management and supervisory boards of Volkswagen (DE:VOWG_p) at the group’s annual general meeting scheduled for July 22.

“Since September 2015, the Company has been involved in high-profile international litigations linked to the Diesel Emission Scandal, centered around the use of an unlawful ‘defeat device’ by companies within the Group,” Glass Lewis said.

It said the issue had contributed to its recommendation to not ratify the actions of the two boards.

Glass Lewis recommends shareholders don’t ratify Volkswagen’s board at AGM

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