Sign In
Step 1
Unite with Fellow Investors
Step 2
Choose the Best Attorney
Step 3
Provide Documents
Step 4
Follow Case Progress
Step 5
Get Payout
CMI.US

Cummins (CMI) Emission Devices Issues Case

C.D. California
Court
2:24-cv-00369
Case number
30 Apr 2019
Class period Start
21 Dec 2023
Class period End
  • $CMI stockholder filed a claim vs. Cummins for misleading investors by secretly producing engines with illegal emission devices from 2019 to 2023.
  • The news about engines caused $CMI to fall 2.87%, losing $990M+ shareholder value loss.
On December 22, 2023, the DOJ shared that Cummins agreed to pay a $1.6B penalty for claims of putting illegal devices in engines, breaking clean air rules. After this news, $CMI dropped by 2.87%.
  • U.S. Attorney General Merrick Garland said the devices Cummins allegedly installed in its engines harm people's health and safety.
  • The DOJ believes the engines produced harmful nitrogen oxide emissions, damaging the respiratory system and contributing to acid rain.
Based on these disclosures, $CMI stockholder filed a claim against Cummins and its leaders:
  • Cummins supposedly used illegal emission devices in engines from 2019 to 2023.
  • This led to downplaying legal risks, overstating environmental commitment, and causing investors losses when the truth came out.
Considering all the representations, investors have reasons to suspect that Cummins lied about using illegal emission devices in engines and overstated environmental commitment.
Alleged Offence
Misleading Statements
Financial Misrepresentation
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
22 December 2023
Filing date
15 January 2024
Lead Plaintiff Deadline
15 March 2024
Collecting participants…
Created by Polina Foster, Scout

Cummins Inc

Cummins Inc. designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: E...

    Ticker
    CMI.US
    ISIN
    US2310211063
    CIK
    26172
    Sector
    Industrials
    Industry
    Specialty Industrial Machinery
    Country
    USA
    Address
    500 Jackson Street, Columbus, IN, United States, 47202-3005