BMW says being investigated by US SEC

Reuters | Published: December 24, 2019 11:24:07 | Updated: December 26, 2019 10:54:34

German automaker BMW AG said on Monday it was being investigated by the US 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.

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