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New York, June 2, 2021 (Global News Service) – Pomerantz LLP is investigating claims on behalf of investors of Volkswagen AG (“Volkswagen” or “Company”) (OTCMKTS: VLKAY; VLKPY). It is recommended that such investors contact Robert S. Willoughby rswilloughby@pomlaw.com Or 888-476-6529, ext. 7980.
The investigation involves whether Volkswagen and certain officers and/or directors are engaged in securities fraud or other illegal business practices.
[Click here for information about joining the class action]
March 30, Wall Street Journal Published a “Wall Street Journal Exclusive News” entitled “No, Volkswagen is not reinventing its Voltswagen: German automakers say that the announcement of its US business should be an April Fool’s Day gimmick”[.]” This Wall Street Journal The article reported in a related part that “Volkswagen’s American subsidiary said on Tuesday that the company would change its name to Volkswagen to promote its electric vehicle strategy, but a spokesperson for the German parent company later stated that the move was a joke.”
On March 31, 2021, it further reported how Volkswagen, Volkswagen and their spokespersons deliberately misled reporters.For example, ABC News published an article titled “An Unwelcome Prank: Volkswagen Deliberately Defrauding Reporters: Reporters Beware of Pranksters Around April Fools’ Day, but this time from a multi-billion dollar company[.]”
Affected by this news, Volkswagen’s American Depositary Receipt (“ADR”) price fell by US$2.14 per ADR for the next two full trading days, a drop of more than 5%, and closed at 35.58 per ADR on April 1, 2020. The US dollar harms the interests of investors.
Pomerantz Firm has offices in New York, Chicago, Florida and Los Angeles, and is recognized as one of the leading law firms in the field of corporate, securities and antitrust litigation. Pomerantz Firm was founded by the late Abraham L. Pomerantz and is known as the president of the Class Litigation Lawyers Association, setting a precedent in the field of securities class actions. Today, more than 80 years later, Pomerantz continues to follow the tradition he founded to fight for the rights of victims of securities fraud, breach of fiduciary duties, and corporate misconduct. The company has recovered millions of dollars in damages on behalf of its members.Look www.pomerantzlaw.com
contact:
Robert S. Willoughby
Pomerantz Law Firm
rswilloughby@pomlaw.com
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