On Friday, Volkswagen Group said it would be delaying its annual earnings meeting, originally scheduled for March 10, due to "remaining open questions… relating to the diesel emissions issue.” The annual general meeting of shareholders, scheduled for April, will also be postponed.
The New York Times calls the move “highly unusual” but understandable given that the German automaker could potentially owe “tens of billions” in fines, not including the cost of fixing or buying back the nearly 600,000 diesel vehicles in the US alone that were equipped with emissions-system-cheating software. Worldwide, the number of diesel Volkswagens with so-called “defeat device” software rises to about 11 million.
According to a press release from the company, Volkswagen decided to delay the financial meetings to achieve a "transparent and reliable outcome for its shareholders and stakeholders.” It promised to release the new scheduled meeting dates as soon as possible.
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