FRANKFURT (Reuters) – Shareholder advisory firm Glass Lewis is recommending to vote against ratifying the management and supervisory boards of Volkswagen at the group’s annual general meeting scheduled for July 22.
“Since September 2015, the Company has been involved in high-profile international litigations linked to the Diesel Emission Scandal, centered around the use of an unlawful ‘defeat device’ by companies within the Group,” Glass Lewis said.
It said the issue had contributed to its recommendation to not ratify the actions of the two boards.
(Reporting by Christoph Steitz;Editing by Elaine Hardcastle)
