Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Cummins Inc. (“Cummins” or the “Company”) (NYSE: CMI) securities between April 30, 2019 and December 21, 2023, inclusive (the “Class Period”). Cummins investors have until March 15, 2024 to file a lead plaintiff motion.
Investors suffering losses on their Cummins investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
On December 22, 2023, the United States Department of Justice (“DOJ”) revealed that it had reached an agreement with Cummins that required the Company to pay a $1.675 billion penalty to settle claims that the Company violated the Clean Air Act by installing hundreds of thousands of devices into engines to bypass emission control sensors.
On this news, Cummins’ stock price fell $7.01, or 2.9%, to close at $236.99 on December 22, 2023, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Contrary to its post-April 2019 Announcement assurances about its commitment to compliance, Cummins continued to produce engines with unlawful emission defeating devices from 2019 to 2023; (2) accordingly, Cummins understated its legal and regulatory risk, and overstated its commitment to environmental protection; and (3) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
If you purchased Cummins securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20240119037381/en/
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
