Federal Judge Sean Cox approved a $2.8 billion fine against Volkswagen (VLKAY)  in addition to three years probation for the diesel emissions scandal the company was embroiled in last year. The German automaker plead guilty to conspiracy and obstruction of justice charges last month.

The company has already paid $1.5 billion in penalties to resolve environmental, customs and financial claims. Separately, the company is in the midst of spending $11 billion to buy back cars and offer other compensation. 

Volkswagen shares were down 0.33% in morning trading on Friday and has fallen about 8.5% this week. 

(What will move markets this quarter and how should investors position themselves ahead of time? Jim Cramer sat down with four of TheStreet's top columnists recently to get their views.Click here to listen to his latest Trading Strategies roundtable with them and read their advice for stocks, bonds, forex and gold.)

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