Sure, there still were some ongoing state-level actions, but all the big stuff was supposedly over, wrapped up in a $14.7 billion deal that covered a class action by VW owners plus claims by the Department of Justice, the EPA, the Federal Trade Commission, the California Air Resources Board and attorneys general of 44 states, the District of Columbia and Puerto Rico.
It was an impressively broad group of plaintiffs—with a notable omission: The U.S. Securities & Exchange Commission.
Now, like some regulatory version of the fairy tale witch Maleficent—who cursed Sleeping Beauty because she wasn’t invited to her party—the SEC last week unleased a massive suit on VW in San Francisco federal court.
‘Enforcement 40’ for 2020
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