SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of BorgWarner Inc. (BWA)
NEW YORK, June 15, 2018 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of BorgWarner Inc. ("BorgWarner" or the "Company) (NYSE: BWA). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/bwa.
The investigation concerns whether BorgWarner and certain of its officers and/or directors have violated federal securities laws.
On June 15, 2018, pre-market, BorgWarner announced that the Audit Committee of its Board of Directors "concluded on June 12, 2018 . . . that the Company's consolidated financial statements for the fiscal years ended December 31, 2016 and 2015 included in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2017 should be restated, and that such consolidated financial statements should no longer be relied upon, due to the Company's re-evaluation of its accounting for liabilities relating to the estimated value of incurred but not reported asbestos-related claims . . . and their associated defense costs." BorgWarner further advised investors that it "will also make appropriate revisions to the selected financial data for 2014 and 2013 and the quarterly information for 2016 to reflect these changes." On this news, BorgWarner's share price fell sharply during intraday trading on June 15, 2018.
If you are aware of any facts relating to this investigation, or purchased BorgWarner shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/bwa. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
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 Yael Hurwitz
212-697-6484 | info@bgandg.com
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SOURCE Bronstein, Gewirtz & Grossman, LLC
