VW shares crash 20% on emissions cheating scandal

September 21, 2015 1:31 PM

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Shares in Volkswagen (VLKAF) crashed 20% Monday, wiping 16 billion euros ($18 billion) off the company's value after it was found to have misled U.S. regulators.

Federal and state regulators said Friday that the German company cheated on environmental standards by programming some diesel-fueled cars to turn on emission controls only when being tested.

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