Porsche fined nearly $600 million for lapses over emissions scandal

German prosecutors have fined Porsche A.G. $598 million for supervisory lapses which allowed its parent Volkswagen A.G. to cheat diesel emissions tests, Reuters reported. The prosecutors said that Porsche's development department had neglected its legal obligations which led to the sale of diesel cars that spewed excessive pollution. The authorities are also taking action against individual engineers and managers for lack of oversight.

Read more.