VOLKSWAGEN MAKES RECORD SETTLEMENT
In wake of the Brexit vote, not much else has been in the spotlight of the business world. However, Volkswagen managed to do just that. For the past few months, the automobile manufacturing company has been embroiled in a lawsuit with the EPA over its false emission readings. Investigative reports showed that Volkswagen vehicles emitted over 40x more than what they were reported to emit. Consequently, the German automobile manufacturer has been forced to settle for a record $14.7 billion. Unfortunately, their troubles do not stop there. They could face criminal charges, as well as be charged with civil penalties in violation of the Clean Air Act. Deputy Attorney General Sally Yates alleged that this is the “most flagrant violations of our consumer and environmental laws in our country's history."