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NYSE:BWA Shareholder Notice: Investigation over Possible Securities Laws Violations by BorgWarner In

Time:2018-10-09 20:19Turbochargers information Click:

PRESS RELEASE sbwire press re

San Diego, CA -- (SBWIRE) -- 07/09/2018 -- An investigation was announced concerning possible violations of securities laws by BorgWarner Inc. and certain of its directors and officers in connection with certain financial statements.

Investors who purchased shares of BorgWarner Inc. (NYSE: BWA), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of BorgWarner Inc. (NYSE: BWA) concerning whether a series of statements by BorgWarner Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Auburn Hills, MI based BorgWarner Inc. provides solutions for combustion, hybrid, and electric vehicles worldwide. On June 15, 2018, BorgWarner Inc stated 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 Inc informed 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."

Those who purchased shares of BorgWarner Inc. (NYSE: BWA) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

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