Press release
Lawsuit filed for Investors in shares of Bayerische Motoren Werke Aktiengesellschaft (BMWYY, BAMXF)
An investor, who purchased shares of Bayerische Motoren Werke Aktiengesellschaft („BMW“) (BMWYY, BAMXF), filed a lawsuit in the U.S. over alleged violations of Federal Securities Laws by Bayerische Motoren Werke Aktiengesellschaft („BMW“) in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Bayerische Motoren Werke Aktiengesellschaft (BMWYY, BAMXF), have certain options and for certain investors are short and strict deadlines running. Deadline: December 28, 2020. Bayerische Motoren Werke Aktiengesellschaft (BMWYY, BAMXF) investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On December 23, 2019, it was reported that the SEC is investigating BMW's sales practices, specifically, whether BMW engaged in a practice known as "sales punching." Sales punching occurs when a company boosts sales figures by having dealers register cars as sold when the vehicles are still on car lots.
Then, on September 24, 2020, BMW agreed to a settlement with the SEC regarding the "sales punching" investigation. The settlement included fines of up to $18 million.
The plaintiff claims that between November 3, 2015 and September 24, 2020, the defendants made false and/or misleading statements and/or failed to disclose that BMW kept a “bank” of retail vehicle sales that it used to meet internal monthly sales targets regardless of when the sales actually occurred, that BMW artificially manipulated sales figures by having dealers register cars as sold when the cars were still in inventory, that as a result, BMW’s key operating metrics were inaccurate and misleading, and that as a result, defendants’ statements about BMW’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Those who purchased shares of Bayerische Motoren Werke Aktiengesellschaft („BMW“) (BMWYY, BAMXF) have certain options and should contact the Shareholders Foundation.
Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
Investors who purchased shares of Bayerische Motoren Werke Aktiengesellschaft (BMWYY, BAMXF), have certain options and for certain investors are short and strict deadlines running. Deadline: December 28, 2020. Bayerische Motoren Werke Aktiengesellschaft (BMWYY, BAMXF) investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On December 23, 2019, it was reported that the SEC is investigating BMW's sales practices, specifically, whether BMW engaged in a practice known as "sales punching." Sales punching occurs when a company boosts sales figures by having dealers register cars as sold when the vehicles are still on car lots.
Then, on September 24, 2020, BMW agreed to a settlement with the SEC regarding the "sales punching" investigation. The settlement included fines of up to $18 million.
The plaintiff claims that between November 3, 2015 and September 24, 2020, the defendants made false and/or misleading statements and/or failed to disclose that BMW kept a “bank” of retail vehicle sales that it used to meet internal monthly sales targets regardless of when the sales actually occurred, that BMW artificially manipulated sales figures by having dealers register cars as sold when the cars were still in inventory, that as a result, BMW’s key operating metrics were inaccurate and misleading, and that as a result, defendants’ statements about BMW’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Those who purchased shares of Bayerische Motoren Werke Aktiengesellschaft („BMW“) (BMWYY, BAMXF) have certain options and should contact the Shareholders Foundation.
Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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