BMW is being investigated by U.S. SEC

German automaker BMW AG stated on Monday that it was being investigated by the U.S. Securities and Exchange Commission after a report of an investigation associated with the company’s sales practices.

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

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

The SEC refused to comment.