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F.US
id: 1302
Ford Motor (F) Financial Issues Case
E.D. Michigan
Court2:24-cv-12080
Case number27 Apr 2022
Class period Start24 Jul 2024
Class period End07 Oct 2024
Lead Plaintiff motion deadline- $F stockholder filed a claim against Ford Motor for hiding quality issues since 2022, which led to higher warranty costs and profit risks.
- After the financial results on July 24, 2024, $F fell by 18%.
- Ford Motor investors can join this case to be notified about potential recovery.
Case Details:
On July 24, 2024, Ford announced its Q2 financial results, revealing that profitability was impacted by increased warranty reserves and higher warranty costs.
As a result, Ford lowered its full-year earnings outlook for its electric vehicle segment.
Analysts noted that warranty and recall costs reached $2.3B in the second quarter, up $800M from the first quarter and $700M from the previous year.
On this news, $F fell by 18% on July 25, 2024.
Based on these events, a $F stockholder filed a claim against Ford Motor and its leaders, accusing them of the following:
- Ford had quality assurance issues with its vehicle models since 2022, leading to increased warranty costs.
- As a result, the warranty reserves were inaccurate, and the company's profitability was likely to decline.
Considering all the representations, investors suspect Ford hid quality issues since 2022, leading to higher warranty costs, inaccurate reserves, and profit risks.
Case Status
Lead Plaintiff Submission
Alleged Offence
Mismanagement,
Misleading Statements,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
25 July 2024
Filing date
08 August 2024
Lead Plaintiff Deadline
07 October 2024