BMW Will Pay $1.75M To End Claims Of Pumping Up US Sales
By Bill Wichert (April 28, 2022, 8:56 PM EDT) -- BMW has agreed to pay $1.75 million to settle class claims that the automaker engaged in deceptive practices that inflated its retail vehicle sales figures in the U.S., the company and investors told a New Jersey federal court Thursday in seeking preliminary approval of the deal.
In aiming to resolve a case largely based on a related 2020 settlement with the U.S. Securities and Exchange Commission, BMW AG, its subsidiary BMW NA, lead plaintiff Mark Spanier and named plaintiff Marissa Weeresinghe, in separate briefs that called on the court to greenlight their agreement, pointed to various risks associated with proving the claims....
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