NEW YORK, Sept. 30, 2015 /PRNewswire/ -- The law firm Gardy & Notis, LLP has filed a securities fraud class action lawsuit on behalf of purchasers of American Depositary Receipts (ADRs) of VLKAY, which are traded under the symbols "VLKAY" and "VLKPY," and "VLKAF." The lawsuit concerns investors who bought ADRs during a class period of November 19, 2010 and September 21, 2015. The lawsuit was filed in the United States District Court for the District of New Jersey, and names as defendants Volkswagen AG, and its U.S. subsidiaries, Volkswagen Group of America, Inc. and Audi of America, and executives Martin Winterkom, Herbert Diess, Michael Horn, Jan Bures, Mark McNabb, Jonathan Browning and Scott Keogh.
The lawsuit alleges that Volkswagen issued a series of false and misleading statements regarding vehicles equipped with clean diesel engines, which served to artificially inflate the market price of Volkswagen ADRs. Volkswagen has since admitted that its clean diesel engines used an unlawful defeat device to cheat on emissions testing.
If you purchased ADRS of Volkswagen AG between November 19, 2010 and September 21, 2015, you may, no later than November 24, 2015, request that the Court appoint you as lead plaintiff. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation, and you must meet certain legal requirements to serve as a lead plaintiff.
To learn more about the lawsuit or to obtain a copy of the complaint, please contact plaintiff's counsel, Mark C. Gardy at Gardy & Notis, LLP, 126 East 56th Street, New York, NY 10022, Telephone: 212-905-0509, Fax: 212-905-0508, email: firstname.lastname@example.org.
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SOURCE Gardy & Notis, LLP