NEW YORK, NY / ACCESSWIRE / August 22, 2024 / Pomerantz LLP announces that a class action lawsuit has been filed against Ford Motor Company ("Ford" or the "Company") (NYSE:F). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether Ford and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until October 7, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Ford securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
On July 24, 2024, after the market closed, Ford announced second quarter 2024 financial results, revealing that the Company's "profitability was affected by an increase in warranty reserves" and "higher warranty costs." As a result, Ford also revised its outlook for full year earnings for its electric vehicle segment to "reflect higher warranty costs than originally planned." Analysts and journalists, including The Associated Press and The Washington Post, reported that, in the second quarter, warranty and recall costs totaled $2.3 billion, $800 million more than the first quarter and $700 million more than a year prior.
On this news, Ford's stock price fell $2.51 per share, or 18.36%, to close at $11.16 per share on July 25, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
SOURCE: Pomerantz LLP
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