Case Page

 

Case Status:    ONGOING    
On or around 10/31/2017 (Ongoing date of last review)

Filing Date: October 30, 2017

Ford Motor Company designs, manufactures, and services cars and trucks. The Company also provides vehicle-related financing, leasing, and insurance through its subsidiary.

According to the law firm press release, on October 27, 2017, the U.S. National Highway Traffic Safety Administration (“NHTSA”) announced a preliminary investigation into 841,000 Ford vehicles, citing concerns that the vehicles’ steering wheels could detach while the vehicles are in motion. NHTSA stated that it is specifically investigating 2014-2016 model Ford Fusion sedans.

On this news, Ford’s share price fell $0.21, or 1.71%, to close at $12.06 on October 27, 2017.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) flaws in the Company’s manufacturing processes, supply chain, and/or quality control rendered at least 841,000 Ford vehicles unsafe to drive; (ii) the foregoing issues, when revealed, would foreseeably subject Ford to additional regulatory scrutiny and impact the Company’s profitability; and (iii) as a result, Ford’s public statements were materially false and misleading at all relevant times.

COMPANY INFORMATION:

Sector: Consumer Cyclical
Industry: Auto & Truck Manufacturers
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: F
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: E.D. Michigan
DOCKET #: 17-CV-13536
JUDGE: Hon. Linda V. Parker
DATE FILED: 10/30/2017
CLASS PERIOD START: 02/18/2014
CLASS PERIOD END: 10/26/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bronstein, Gewirtz & Grossman, LLC (New York)
    60 East 42nd Street - Suite 4600, Bronstein, Gewirtz & Grossman, LLC (New York), NY 10165
    212.697.6484 212.697.7296 · info@bgandg.com
  2. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
No Document Title Filing Date