Daimler: fined 870 million euros for German rule violation
(CercleFinance.com) - Daimler has agreed to pay a fine of 870 million euros as some of its vehicles have deviated from regulatory requirements since 2008, the German auto giant said on Tuesday.
The Stuttgart public prosecutor has fined Daimler due to a negligent violation of supervisory duties in the area of vehicle certification for certain Mercedes-Benz cars.
The prosecutor essentially referred to a recall order by Germany's motor vehicle authority (KBA).
Daimler said that it has decided not to appeal against the public prosecutor's administrative offense proceeding, and thereby concludes the case.
The fine will not result in a relevant negative effect on third-quarter earnings, the carmaker said.
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