NEW YORK, NY / ACCESSWIRE / November 4, 2017 / Pomerantz LLP is investigating claims on behalf of investors of Volkswagen Aktiengesellschaft (“Volkswagen” or the “Company”) (OTC PINK: VLKAY; OTC PINK: VLKPY). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Volkswagen and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On July 25, 2017, a putative 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 class action complaint alleges that, beginning in 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.” On July 28, 2017, a similar complaint was filed in U.S. District Court for the Northern District of California, and a second similar complaint was filed in the District of New Jersey. On news of the antitrust lawsuits, Volkswagen’s share price has fallen sharply.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
SOURCE: Pomerantz LLP