American stock market watchdog investigates failed April 1 joke Volkswagen

What exactly happened? On March 29, Volkswagen of America ‘accidentally’ leaked a press release about a name change. In the US, the Volkswagen brand would be renamed Voltswagen. Various media outlets reported on it and asked Volkswagen for comment, to which Scott Keogh, president of the US branch, continued to claim that it was not a joke, but that it was really going to happen.

Newspapers and news sites appeared naive

Newspapers and news sites – also in the Netherlands – were surprisingly naive and took Keogh’s confirmation seriously. Volkswagen would really become a Voltswagen in America, they wrote. Nonsense of course, as we pointed out at the time, because a day later the whole Voltswagen thing turned out to be a badly executed April 1 joke.


The lying of Volkswagen spokesmen did not go well

The cheating (not to say lying) of various Volkswagen information officers and managers did not go well. After all, Volkswagen doesn’t have the best reputation for telling the truth. In 2015, it came to light that the German car manufacturer had circumvented strict emissions regulations with a piece of cheating software in its diesel models. The multi-billion dollar diesel gate scandal.

Stock market watchdog is investigating Voltswagen joke

Anyway, the American stock market watchdog SEC (Securities and Exchange Commission) is also not happy with Voltswagen gate. Because just after the announcement of the name change and the ‘confirmation’ that it was not a joke, Volkswagen’s stock price shot up by 12.5 percent.

SEC previously criticized Tesla boss Elon Musk

The SEC wants to find out whether Volkswagen has broken stock market rules or laws with the Voltswagen debacle. Earlier, the organization went after Tesla CEO Elon Musk. He had written on Twitter that he was going to take Tesla off the stock exchange and that he had the money for it. Shortly after that announcement, the Tesla share price rose sharply. Musk has been punished for his stunt.

Share
Published by
Redaction

Recent Posts

Max Verstappen can be seen again in popular Netflix documentary ‘Drive to Survive’ after “good conversation”

©  AFPMax Verstappen can be seen more often on Netflix in the new season of…

3 hours ago

The Ice Rabbit or the Half Fleming: Will George Russell or Lando Norris Be the New Lewis Hamilton?

Lando Norris and George Russell are both described as successors to Lewis Hamilton in their…

3 hours ago

Jaguar to demolish Bentley with new SUVs? See first, then believe…

Things have not been going well for Jaguar in recent years. That's why the British…

5 hours ago

Always wanted a Miami Vice white Ferrari Enzo? Then you had the chance

What's so special about a Ferrari Enzo? 400 units have been built and one always…

5 hours ago

Volkswagen does not want you to see that this is the electric Cupra Tavascan

Look closely, is a Volkswagen ID.4 driving here on the Nürburgring? You would think so,…

21 hours ago

Former F1 boss Bernie Ecclestone would “catch a bullet” for Russian president Vladimir Putin: “He’s a great person”

©  REUTERSBernie Ecclestone said he would "take a bullet" for Russian President Vladimir Putin, according…

22 hours ago

This website uses cookies.