It’s not often that the public gets a look at the guts of a federal securities investigation. But on Monday, the Securities and Exchange Commission (SEC) set out, in almost painful detail, exactly how it goes about investigating companies — specifically, in this case, Volkswagen.In some 200-plus pages filed in court in California, Jeffrey Shank, an SEC attorney, explained every step his team took as it investigated whether Volkswagen defrauded bond investors by not telling them it was cheating on its diesel emissions tests.The aim was to convince the judge overseeing the SEC’s lawsuit against Volkswagen and its former chief executive, Martin Winterkorn, that the agency had not slow-walked its four year probe. It also wanted to demonstrate that it had not just jumped on the bandwagon when
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It’s not often that the public gets a look at the guts of a federal securities investigation....