{"id":387007,"date":"2020-11-23T12:03:31","date_gmt":"2020-11-23T17:03:31","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=387007"},"modified":"2020-11-23T12:03:31","modified_gmt":"2020-11-23T17:03:31","slug":"glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-bayerische-motoren-werke-aktiengesellschaft-bmwyy-2","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-bayerische-motoren-werke-aktiengesellschaft-bmwyy-2\/","title":{"rendered":"Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Bayerische Motoren Werke Aktiengesellschaft (BMWYY)"},"content":{"rendered":"
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Shareholders with losses exceeding $100,000 are encouraged to contact the firm<\/h2>\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n LOS ANGELES<\/span>, Nov. 23, 2020<\/span> \/PRNewswire\/ —\u00a0Glancy Prongay<\/span> & Murray LLP<\/a> (“GPM”) reminds investors of the upcoming\u00a0December 28<\/span>, 2020\u00a0<\/b>deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Bayerische Motoren Werke Aktiengesellschaft (“BMW” or the “Company”) (OTC: BMWYY) securities between November 3, 2015<\/span> and September 24, 2020<\/span><\/b> inclusive (the “Class Period”).<\/p>\n

\n

\n
\n \"(PRNewsfoto\/Glancy
\n <\/a>\n <\/p>\n<\/p><\/div>\n

If you suffered a loss on your BMW investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/bayerische-motoren-werke-aktiengesellschaft\/<\/a>.\u00a0 You can also contact Charles H. Linehan<\/span>, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com<\/a> to learn more about your rights.<\/p>\n

On December 23, 2019<\/span>, The Wall Street Journal<\/i> reported that the U.S. Securities and Exchange Commission (“SEC”) was investigating whether BMW engaged in “sales punching,” a practice in which “a company boosts sales figures by having dealers register cars as sold when the vehicles actually are still standing on car lots.”<\/p>\n

On this news, the price of BMW’s American Depositary Receipts (“ADRs”) fell $1.33<\/span>, or nearly 7%, to close at $18.02<\/span> per ADR on December 23, 2019<\/span>, thereby damaging investors. <\/p>\n

On September 24, 2020<\/span>, the SEC announced an $18 million<\/span> settlement agreement with BMW regarding the investigation. According to the SEC’s order, from January 2015<\/span> to March 2017<\/span>, the Company had “used its demonstrator and service loaner programs to boost reported retail sales volume and meet internal targets.” It also stated that from 2015 to 2019, BMW kept a reserve of unreported retail vehicle sales, which is used to meet internal monthly sales targets regardless of when the actual sale occurred.<\/p>\n

On this news, BMW’s ADR price fell $0.51<\/span>, or about 2%, to close at $23.07<\/span> per ADR on September 25, 2020<\/span>, thereby damaging investors further.<\/p>\n

The complaint filed alleges that throughout the Class Period, Defendants made materially false and\/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) BMW kept a “bank” of retail vehicle sales that it used to meet internal monthly sales targets regardless of when the sales actually occurred; (2) BMW artificially manipulated sales figures by having dealers register cars as sold when the cars were still in inventory; (3) as a result, BMW’s key operating metrics were inaccurate and misleading; and (4) as a result, Defendants’ statements about BMW’s business, operations, and prospects were materially false and misleading and\/or lacked a reasonable basis at all relevant times.<\/p>\n

Follow us for updates on LinkedIn<\/a>, Twitter<\/a>, or Facebook<\/a>.<\/p>\n

If you purchased or otherwise acquired BMW securities\u00a0during the Class Period, you may move the Court no later than December 28, 2020<\/span><\/b>\u00a0to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to\u00a0learn more\u00a0about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire<\/span>, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California<\/span> 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com<\/a>, or visit our website at www.glancylaw.com<\/a>.\u00a0 If you inquire by email please include your mailing address, telephone number and number of shares purchased. <\/p>\n

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. <\/p>\n

<\/div>\n

\n \"Cision\" View original content to download multimedia:http:\/\/www.prnewswire.com\/news-releases\/glancy-prongay–murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-bayerische-motoren-werke-aktiengesellschaft-bmwyy-301178267.html<\/a><\/p>\n

SOURCE Glancy Prongay<\/span> & Murray LLP<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

Shareholders with losses exceeding $100,000 are encouraged to contact the firm PR Newswire LOS ANGELES, Nov. 23, 2020 \/PRNewswire\/ —\u00a0Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming\u00a0December 28, 2020\u00a0deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Bayerische Motoren Werke Aktiengesellschaft (“BMW” or the “Company”) (OTC: BMWYY) securities between November 3, 2015 and September 24, 2020 inclusive (the “Class Period”). If you suffered a loss on your BMW investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/bayerische-motoren-werke-aktiengesellschaft\/.\u00a0 You can also contact Charles H. Linehan, of GPM at … <\/p>\n

Continue reading “Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Bayerische Motoren Werke Aktiengesellschaft (BMWYY)”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-387007","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nGlancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Bayerische Motoren Werke Aktiengesellschaft (BMWYY) - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-bayerische-motoren-werke-aktiengesellschaft-bmwyy-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Bayerische Motoren Werke Aktiengesellschaft (BMWYY) - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Shareholders with losses exceeding $100,000 are encouraged to contact the firm PR Newswire LOS ANGELES, Nov. 23, 2020 \/PRNewswire\/ —\u00a0Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming\u00a0December 28, 2020\u00a0deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Bayerische Motoren Werke Aktiengesellschaft (“BMW” or the “Company”) (OTC: BMWYY) securities between November 3, 2015 and September 24, 2020 inclusive (the “Class Period”). 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If you suffered a loss on your BMW investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/bayerische-motoren-werke-aktiengesellschaft\/.\u00a0 You can also contact Charles H. Linehan, of GPM at … Continue reading \"Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Bayerische Motoren Werke Aktiengesellschaft (BMWYY)\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-bayerische-motoren-werke-aktiengesellschaft-bmwyy-2\/","og_site_name":"Market Newsdesk","article_published_time":"2020-11-23T17:03:31+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/1219482\/Glancy_Prongay_and_Murray_LLP.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-bayerische-motoren-werke-aktiengesellschaft-bmwyy-2\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-bayerische-motoren-werke-aktiengesellschaft-bmwyy-2\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Bayerische Motoren Werke Aktiengesellschaft (BMWYY)","datePublished":"2020-11-23T17:03:31+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-bayerische-motoren-werke-aktiengesellschaft-bmwyy-2\/"},"wordCount":649,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-bayerische-motoren-werke-aktiengesellschaft-bmwyy-2\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/1219482\/Glancy_Prongay_and_Murray_LLP.jpg","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-bayerische-motoren-werke-aktiengesellschaft-bmwyy-2\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-bayerische-motoren-werke-aktiengesellschaft-bmwyy-2\/","name":"Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Bayerische Motoren Werke Aktiengesellschaft (BMWYY) - 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