Volkswagen Stock Gains Despite Continued Emission Scandal Frenzy
Former chairman Ferdinand Piech has refused to testify to lawmakers about VW's September 2015 emissions scandal.
Volkswagen's (VLKAY) stock rose Monday, shrugging off a continued frenzy over exactly how much former executives knew about emissions cheating devices hidden inside its vehicles before the scandal broke in September 2015.
Reuters reported Sunday that former chairman Ferdinand Piech refused to testify before lawmakers in Germany over the scandal, citing a letter from his lawyer.
Piech is reported to have already cooperated with prosecutors in Germany in December and with an independent investigation led by law firm Jones Day earlier in the year.
VW shares rose more than 1% in Frankfurt to change hands at €144.25 amid a buoyant market for auto stocks - bringing its year-to-date gain to 8.17%.
