A veteran Volkswagen AG engineer pleaded guilty to conspiring to defraud U.S. regulators and customers, the first criminal charge in the Justice Department’s year-long investigation into the company’s rigging of federal air-pollution tests.
The engineer, James Liang, who entered his plea in Detroit federal court on Friday, is cooperating with the investigation, increasing pressure on higher-ranking officials of the company.
Also read: Tesla posts rare profit, stock pops 6%
16:36 AT&T, Time Warner poised to lobby lawmakers, regulators on proposed $85-billion merger23
12:23 Lockheed Martin's quarterly profit handily beats estimates22
11:41 Caterpillar earnings: 85 cents per share, vs expected EPS of 76 cents19
00:02 AT&T Aims for an Empire in Merger Talks With Time Warner13