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SEC sues Volkswagen over Dieselgate

The Securities and Exchange Commission has filed a lawsuit against Volkswagen and its former chief executive Martin Winterkorn over the infamous diesel emission scandal. They said that it was a massive fraud on the US investors. In September 2015, Volkswagen had admitted about the use of illegal software to cheat the US emissions test. SEC said that Volkswagen reaped hundreds of millions of dollars in benefit in this.