Volkswagen under investigation over its April fool’s prank

Volkswagen is now under investigation by the US SEC in regard to its April fool’s prank of changing their name to Voltswagen.

Last month, Volkswagen pulled a marketing stunt by putting out a fake press release indicating that the company will be changing its name to ‘Voltswagen’ in America.

According to media reports, the failed April fool’s prank has now attracted the attention of the US Security & Exchange Commission (SEC).

The SEC is now reported to have opened an enquiry on the US subsidiary of the Volkswagen Group. The commission will be investigating a possible influence in the share price of Volkswagen caused due to the marketing stunt.

This inquiry is said to have come after the US media accused Volkswagen of being misled. The carmaker justified the marketing stunt by launching the ID.4 electric car in the US.

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