(Bloomberg) -- Suzuki Motor Corp. shares fell as much as 7%, the most in seven weeks, after German prosecutors said they were conducting raids targeting the Japanese automaker for alleged use of devices that manipulate readings of emissions outputs.
Suzuki is suspected of putting into circulation more than 22,000 vehicles, including its Swift minicar, equipped with defeat devices, Frankfurt prosecutors said in a statement Wednesday. The probe also targets Stellantis NV and Marelli Corp. as they were allegedly involved in the vehicles' delivery and software.
Read More: Frankfurt Prosecutors Raid Suzuki as Part of Diesel Probe
Suzuki shares pared their loss to 6% as of 10:10 a.m. in Tokyo on Thursday, still the biggest decline since March 8. The stock is down about 17% this year.
Suzuki and Marelli said they are cooperating with authorities, while Stellantis didn't immediately respond to emailed requests for comment.
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