NEW YORK, Aug. 29, 2017 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Volkswagen Aktiengesellschaft ("Volkswagen" or the "Company") (OTC PINK: VLKAY; OTC PINK: VLKPY) and certain of its officers, on behalf of a class consisting of investors who purchased Volkswagen securities between March 14, 2013 through July 26, 2017, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/vlkay.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Volkswagen wrongfully colluded with other auto manufacturers on technology and supplier for decades; (2) consequently, Volkswagen's public statements were materially false and misleading at all relevant times.
On July 25, 2017, a class action was filed in U.S. District Court for the District of New Jersey against Volkswagen, Audi AG, BMW AG, Mercedes-Benz USA, and Porsche AG, alleging violations of federal antitrust laws. Specifically, the complaint alleges that since 2006, the carmakers conspired "to share commercially-sensitive information and reach unlawful agreements" in order "to impose a German automobile premium on consumers premised on superior German engineering, while secretly stunting incentives to innovate." Then on July 28, 2017, a similar complaint was filed in U.S. District Court for the Northern District of California, and another complaint was filed in the District of New Jersey. Following these revelations, Volkswagen stock dropped, damaging investors.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/vlkay or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Volkswagen you have until October 30, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.