LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Bayerische Motoren Werke AG (“BMW” or “the Company”) (OTC: BMWYY, BAMXF) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between November 3, 2015 and September 24, 2020, inclusive (the ''Class Period''), are encouraged to contact the firm before December 28, 2020.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. BMW engaged in a scheme in which a “bank” of retail vehicle sales was maintained to manipulate monthly sales to meet internal targets regardless of actual sales. The Company manipulated its sales figures by having dealers register vehicles still held in inventory as sold. The Company’s key operating metrics were inflated and misleading due to this scheme. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about BMW, investors suffered damages.
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The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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