[LexProf]

If indeed it is the punching of cars that is at issue, although that would not be a deceptive practice vis-a-vis customers, I could see it being a problem vis-a-vis investors. I guess it depends on what is disclosed in the quarterly reports and the like. If BMW is reporting punched cars as ordinary sales, without distinguishing them from sales made by dealers directly to ordinary customers, then that might be a problem in the eyes of the SEC. But I'm rusty on securities regulation, so my reasoning could be all wet