As you know, Volkswagen was caught cheating during emissions tests, with some 11 million diesel cars equipped with special software to bypass the rules.
Pretty soon, there will be a movie about the so-called “dieselgate” thanks to Paramount Pictures and Appian Way, a company owned by Leonardo DiCaprio. They’ve just purchased the rights to a book proposal by New York Times writer Jack Ewing, the Hollywood Reporter claims.
DiCaprio has a history of making films highlighting environmental issues, most notably The 11th Hour (2007). A true Mother Earth advocate, he has also created the Leonardo DiCaprio Foundation, which supports innovative projects that protect vulnerable wildlife from extinction, while restoring balance to threatened ecosystems and communities.
Ewing's yet-untitled book will reportedly investigate how a "more, better, faster" ethos fueled one of the greatest frauds in corporate history and severely diminished the reputation and fortunes of Volkswagen. Its president and CEO Martin Winterkorn has since resigned.
The illegal VW cars have emissions levels that are up to 40 times higher than the norm. Numerous investigations and lawsuits have been launched across the globe as a result.
On Monday, Standard & Poor’s lowered the German automaker’s long-term credit score from A to A-, and even hinted at further drops in the near future.
"The downgrade reflects our assessment that VW has demonstrated material deficiencies in its management and governance and general risk management framework," S&P said in a statement. "We believe VW's internal controls have been shown to be inadequate in preventing or identifying alleged illegal behavior in the U.S. and misconduct in other regions."