The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the District of New Jersey on behalf of investors who purchased VLKAY (OTCMKTS : VLKAY, VLKPY) securities between March 14, 2013 and July 26, 2017.
According to the complaint, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Volkswagen AG wrongfully colluded with other auto manufacturers on a range of technical and pricing issues for decades; (2) as a result, Volkswagen AG’s public statements were materially false and misleading at all relevant times. On July 21, 2017, Bloomberg reported that "BMW, Daimler and Volkswagen's VW, Audi, Porsche brands met starting in the 1990s to coordinate activities related to their vehicle technology, costs, suppliers and strategy as well as emissions controls in diesel engines.." On July 25, 2017, a class action was filed in U.S. District Court for the District of New Jersey against Porsche AG, Volkswagen, Audi AG, BMW AG, and Mercedes-Benz USA, alleging violations of federal antitrust laws. The 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.”
If you suffered a loss in VLKAY you have until October 30, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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