Volkswagen is a recent example of a company behaving badly, recently admitting to misleading Environmental Protection Agency emissions inspectors by placing misleading software in millions of cars, to appear more environmentally friendly than they were. This error in judgment regarding ethical behavior cost the company more than $20 billion; investors pulled out, anticipating the associated costs, and Volkswagen faced customer repairs, fines and legal fees. Not only did Volkswagen take a hit to the wallet, but the company's reputation was also hit hard. Toshiba upheld unethical standards, admitting that its practice involved overestimating profits. An independent investigation found that "Toshiba had a corporate culture in which management decisions could not be challenged" and that "employees were pressured into improper accounting by delaying reporting losses or deferring certain costs to later years. Not only did Toshiba tolerate unethical behavior, it promoted it. CEO and Chairman Hisao have resigned, but Toshiba still has a long way to go to restore its reputation and win back its investors.