Justice Department Spares Mercedes-Benz: US Emission Probe Reportedly Closed

MERCEDES-BENZ GROUP AG UNSP ADR EACH REP 0.25 ORD SHS 0.00%

MERCEDES-BENZ GROUP AG UNSP ADR EACH REP 0.25 ORD SHS

MBGYY

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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.

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Price Action: MBGYY shares traded higher by 1.22% at $19.84 at last check Friday.

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

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