BMW says it's being investigated by U.S. SEC

German automaker BMW AG said on Monday it was being investigated by the U.S. Securities and Exchange Commission following a report of a probe related to the company’s sales practices.

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“We can confirm that we’ve been contacted by the SEC and are cooperating fully with the investigation,” a BMW spokesman said, but declined to comment further.

The Wall Street Journal earlier reported, citing a source, that the SEC was probing BMW’s sales practices.

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The SEC declined to comment.