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The U.S. Department of Justice reportedly concluded an investigation into luxury vehicle maker Mercedes-Benz Group AG (OTC:MBGYY) related to exhaust emissions without filing charges against the German automaker.
The Stuttgart-based company confirmed the closure of the investigation on Saturday, reported Bloomberg.
The decision marks a significant development in the legal landscape surrounding diesel-related issues.
Renata Jungo Bruengger, a member of Mercedes-Benz’s management board, reportedly emphasized the decision as a crucial milestone toward legal clarity regarding various diesel-related matters.
However, officials from the DOJ refrained from immediate comments, as per the report.
In April 2016, Mercedes-Benz witnessed a notable decline in its shares following the disclosure of the DOJ’s inquiry into its certification and admissions procedures concerning exhaust emissions in the U.S.
Mercedes Benz stock has gained over 2% in the last 12 months.
Read Next: Mercedes Alabama Workers Gear Up For UAW Union Election: Report
Price Action: MBGYY shares traded higher by 1.22% at $19.84 at last check Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by pisaphotography on Shutterstock
Posted In: MBGYY
