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BMW says being investigated by U.S. SEC - Metro US

BMW says being investigated by U.S. SEC

FILE PHOTO: The 2020 BMW's M2 CS and M8 Gran Coupe are displayed at the LA Auto Show in Los Angeles, California, U.S., November 20, 2019. REUTERS/Lucy Nicholson
Reuters

(Reuters) – German automaker BMW AG said on Monday it was being investigated by the U.S. Securities and Exchange Commission following a report of a probe related to the company’s sales practices.

“We can confirm that we’ve been contacted by the SEC and are cooperating fully with the investigation,” a BMW spokesman said, but declined to comment further.

The Wall Street Journal earlier reported, citing a source, that the SEC was probing BMW’s sales practices.

The SEC declined to comment.

(Reporting by Tina Bellon in New York, Akshay Balan in Bengaluru and Katanga Johnson in Washington; Editing by Shounak Dasgupta)

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