SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Volkswagen AG.
NEW YORK, Sept. 21, 2015 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of Volkswagen AG. ("Volkswagen" or the "Company") (OTC: VLKAY -News). Such investors are advised to contact Peretz Bronstein or his investor relations coordinator Eitan Kimelman at [email protected] or 212-697-6484.
The investigation concerns whether Volkswagen and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On Friday, September 18, 2015, the United States Environmental Protection Agency ("EPA") ordered a recall of nearly 500,000 From across Volkswagen's major brands and models (Passat, Beetle, Audi A3, Jetta) were included. Volkswagen is being investigated for allegedly using software that would allow the four-cylinder diesel models to turn on the emission controls only when being tested officially. During normal driving, the cars with the software -- known as a "defeat device" -- would pollute 10 times to 40 times the legal limits, the EPA estimated. Volkswagen could face fines of as much as $37,500 for each recalled vehicle. In a statement Sunday, Volkswagen Chief Executive Martin Winterkorn said, "I personally am deeply sorry that we have broken the trust of our customers and the public," he said. "We will cooperate fully with the responsible agencies, with transparency and urgency, to clearly, openly and completely establish all of the facts of this case."
Following this news, Volkswagen stock has fallen $6.45, or 17.76%, during intraday trading trade at $29.86 on September 21, 2015.
If you are aware of any facts relating to this investigation, or purchased shares of Volkswagen, you can assist this investigation by contacting Peretz Bronstein or his Investor Relations Coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email [email protected]. Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.
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.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman 212-697-6484
[email protected]
SOURCE Bronstein, Gewirtz & Grossman, LLC
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