INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation on Behalf of BorgWarner Inc. Investors (BWA)
Law Offices of Howard G. Smith announces that it has commenced an investigation on behalf of BorgWarner Inc. (“BorgWarner”
or the “Company”) (NYSE: BWA) investors concerning the Company and its officers’ possible violations of federal securities laws in
connection with allegedly misleading investors regarding its exposure to asbestos related claims.
On June 15, 2018, BorgWarner 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 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." On this news, shares of BorgWarner fell significantly
during intraday trading on June 15, 2018, thereby injuring investors.
If you purchased BorgWarner securities, have information or would like to learn more about these claims, or have any questions
concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of
Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847,
toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
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