NEW YORK, Oct. 23, 2020 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Bayerische Motoren Werke AG (OTC: BMWYY, BAMXF) resulting from allegations that BMW may have issued materially misleading business information to the investing public.
On December 23, 2019, the Wall Street Journal 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.
As a result of this news, BMWYY's share price fell $0.36, or 1.3% to close at $26.96 on December 23, 2019, while BAMXF's share price fell $1.25, or 1.5%, to close at $80.60 that same day.
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. On this news, BMWYY share prices fell $0.51, or 2.2%, to close at $23.07 the next day, while BAMXF share prices fell $2.54, or 3.55%, to close at $68.91 the next day.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by BMW investors. If you purchased shares of BMW please visit the firm's website at http://www.rosenlegal.com/cases-register-1749.html to join the class action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org or email@example.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm's attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors. Attorney Advertising. Prior results do not guarantee a similar outcome.
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
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