Bayerische Motoren Werke Aktiengesellschaft : American Depositary Shares Securities Litigation
On or around 10/28/2020 (Date of last review)
Filing Date: October 27, 2020
According to the Complaint, Bayerische Motoren Werke Aktiengesellschaft ("BMW" or the "Company"), together with its subsidiaries, purports to develop, manufacture, and sell automobiles and motorcycles, and spare parts and accessories worldwide.
The Complaint alleges that Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose 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/or misleading and/or lacked a reasonable basis at all relevant times.
Company & Securities Information
Defendant: Bayerische Motoren Werke Aktiengesellschaft
Sector: Consumer Cyclical
Industry: Auto & Truck Manufacturers
Ticker Symbol: BMWYY
Company Market: OTC-BB
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Mark Spanier, et al. v. Bayerische Motoren Werke Aktiengesellschaft, et al.
COURT: D. New Jersey
DOCKET #: 20-CV-15081
JUDGE: Hon. Claire C. Cecchi
DATE FILED: 10/27/2020
CLASS PERIOD START: 11/03/2015
CLASS PERIOD END: 09/24/2020
PLAINTIFF FIRMS NAMED IN COMPLAINT:
The Rosen Law Firm, P.A.
First Identified Complaint (FIC) Filings:
Class Action Complaint for Violations of the Federal Securities Laws
U.S. District Court Civil Docket
—Reference Complaint Complaint Related Data is not available
Related District Court Filings
—Related District Court Filings Data is not available