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The Securities and Exchange Commission needs to find out about Volkswagen of America’s phony name change
The United States Securities and Exchange Commission (SEC) is examining Volkswagen’s “Voltswagen” fiasco to perceive what the trick meant for the automaker’s stock cost, and whether it violated any protections laws, as per Der Spiegel.
The fake rebranding occurred on March 29th, when Volkswagen’s American auxiliary “incidentally” distributed a
draft public statement about changing its name to Voltswagen in a gesture to the bigger organization’s drive
into electric vehicles.
After some media sources gave an account of that obviously deviant confirmation, the organization circled back to an authority official statement on March 30th, which included statements from Volkswagen of America CEO Scott Keogh guaranteeing the change was truly occurring.
Eventually, the trick ended up being an inadequately transmitted (and early) April Fools’ joke, and different media sources — including the Associated Press — said that Volkswagen of America delegates lied and revealed to them the name change was truly occurring.
What could be compared to billions of dollars of market esteem. It’s muddled what is the issue here, or what laws VW might have even broken in any case. In any case, the organization has recently come after Tesla CEO Elon Musk for tweeting things that turned out not to be valid about his organization, and Volkswagen has a very much recorded history of deceiving controllers in the US, as well.