Volkswagen erhält Millionenstrafe wegen Verstoß gegen Ad-hoc-Pflicht

Volkswagen has been fined 1.2 million euros by the German financial supervisory authority, BaFin, for allegedly failing to promptly disclose a significant deviation in its business figures from market expectations. According to the BaFin, as reported by Handelsblatt, Volkswagen's forecast for the 2023 financial year had significantly exceeded market expectations, and this information should have been disclosed in an ad-hoc manner.

The company reportedly published this information in a press release, rather than in the required ad-hoc format, which is a more prominent form of disclosure for market participants. Volkswagen has accepted the fine, as per Der Standard Wirtschaft.

Volkswagen can still appeal the fine, but no statement from the company was available at the time of reporting. The Ad-hoc-Publizitätspflicht, or ad-hoc disclosure obligation, requires listed companies in Germany to immediately disclose non-public insider information that may significantly impact the stock price.

Brief written by urgent.news from Der Standard Wirtschaft, Handelsblatt — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.