I've never noticed any of my BMWs fuel gauges giving a higher reading immediately after switching off and restarting the car. However I have noticed that their gauges read higher after I have left the car overnight. I theorize that it's either the pressurized fuel is slowly flowing back into the tank from the pump and filter, or that the cold morning environment have caused some fuel vapour to condesnate back into the tank from the fuel vapour rebreather systems.
Some newer models have more than one sensor monitoring the tank, and they calculate an average to display on the gauge from all the sensors. There have been reports of inconsistent readings from these sensors that would give a optimistic readout on the gauge when the car is actually running out of fuel.
And there are many more theories abound :
http://www.m5board.com/vbulletin/e39-m5-e52-z8-discussion/57117-fuel-gauge-not-what-seems.html