BMW says being investigated by US SEC

BMW says being investigated by US SEC

The 2020 BMW's M2 CS and M8 Gran Coupe are displayed at the LA Auto Show in Los Angeles
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: German automaker BMW AG said on Monday (Dec 23) 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.

Source: Reuters

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