Former Volkswagen chief executive Martin Winterkorn leaves after testifying to a German parliamentary committee on the carmaker's emissions scandal in Berlin, Germany, Jan. 19, 2017.Hannibal Hanschke/Reuters
A court in Braunschweig, Germany, on Thursday said it has opened proceedings against former Volkswagen AG chief executive Martin Winterkorn, examining whether he is guilty of market manipulation as part of an emissions scandal.
Mr. Winterkorn and other Volkswagen executives face charges related to their roles in allowing diesel cars producing illegal pollution levels to hit the road, and for failing to inform investors about the extent of the emissions fraud.
The automaker has paid out more than €30 billion ($47-billion) in fines and penalties for the emissions-test cheating, which was uncovered by U.S. authorities in September, 2015.
The court is examining whether Volkswagen had a duty to inform VW shareholders earlier about the extent of potential fines. The company has said the extent of the fines were not foreseeable.
A lawyer for Mr. Winterkorn could not immediately be reached for comment but has previously denied the charges.
Be smart with your money. Get the latest investing insights delivered right to your inbox three times a week, with the Globe Investor newsletter. Sign up today.