Cummins Inc. Hit with Multiple Class Action Lawsuits Over Emissions Violations
The lawsuits allege false statements and unlawful emission practices between 2019 and 2023, with a potential $2.04 billion charge for resolution.
Overview
- Cummins Inc. faces multiple class action lawsuits alleging violations of federal securities laws between April 30, 2019, and December 21, 2023.
- The lawsuits accuse Cummins of making materially false and misleading statements regarding its emissions certification and compliance process.
- Cummins allegedly continued to produce engines with unlawful emission-defeating devices during the class period.
- The company is expected to record a charge of approximately $2.04 billion to resolve these claims and related matters.
- The U.S. Department of Justice stated that the penalty agreed to with Cummins would be the largest ever for a Clean Air Act violation.