Ford Motor Company (NYSE: F)
A class action has been commenced on behalf of purchasers of Ford Motor Company (NYSE: F) stock during the period between February 18, 2014 and October 26, 2017 (the “Class Period”).
The complaint charges Ford and certain of its officers with violations of the Securities Exchange Act of 1934. Ford designs, manufactures and services cars and trucks. The Company also provides vehicle-related financing, leasing and insurance through its subsidiary.
The complaint alleges that throughout the Class Period, defendants made materially false and misleading statements and/or failed to disclose adverse information regarding the Company’s business and operations, including that flaws in the Company’s manufacturing processes, supply chain and/or quality control procedures rendered at least 841,000 Ford vehicles unsafe to drive, which could subject Ford to additional regulatory scrutiny and impact the Company’s profitability. As a result of defendants’ false statements and/or omissions, Ford securities traded at artificially inflated prices during the Class Period, with its stock reaching a high of close to $18 per share.
Then on October 27, 2017, the U.S. National Highway Traffic Safety Administration (“NHTSA”) announced it had initiated a preliminary investigation into 841,000 Ford vehicles, citing concerns that the vehicles’ steering wheels could detach while the vehicles were in motion. NHTSA stated that it was investigating 2014 through 2016 model year Ford Fusion sedans based on owner complaints “alleging the steering wheel fastening bolt[s] became loose . . . while the vehicle[s] w[ere] in operation.” On this news, the price of Ford shares fell $0.21 per share, or nearly 2%, to close at $12.06 per share on October 27, 2017.
If you are a current shareholder and purchased stock between February 18, 2014 and October 26, 2017 and would like to discuss your options of exercising your rights as a shareholder, please contact us.
Please submit the following information so we can determine if you qualify for the suit. If you don't know all the specific details, partial information is also acceptable.
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