NEW YORK, Nov. 16, 2017 (GLOBE NEWSWIRE) — Pomerantz LLP announces that a class action lawsuit has been filed against Ford Motor Company (“Ford” or the “Company”) (NYSE:F) and certain of its officers. The class action, filed in United States District Court, for the Eastern District of Michigan, and docketed under 17-cv-13536, is on behalf of a class consisting of investors who purchased or otherwise acquired Ford securities, seeking to recover compensable damages caused by defendants’ violations of the Securities Exchange Act of 1934.
If you are a shareholder who purchased Ford securities between February 18, 2014, and October 26, 2017, both dates inclusive, you have until December 29, 2017, to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at firstname.lastname@example.org or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 9980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
Ford Motor Company 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 regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) flaws in the Company’s manufacturing processes, supply chain, and/or quality control rendered at least 841,000 Ford vehicles unsafe to drive; (ii) the foregoing issues, when revealed, would foreseeably subject Ford to additional regulatory scrutiny and impact the Company’s profitability; and (iii) as a result, Ford’s public statements were materially false and misleading at all relevant times.
On October 27, 2017, the U.S. National Highway Traffic Safety Administration (“NHTSA”) announced a preliminary investigation into 841,000 Ford vehicles, citing concerns that the vehicles’ steering wheels could detach while the vehicles are in motion. NHTSA stated that it is specifically investigating 2014-2016 model Ford Fusion sedans.
On this news, Ford’s share price fell $0.21, or 1.71%, to close at $12.06 on October 27, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, 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, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm 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 numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com