Ford Motor Company (NYSE: F): Ford Motor Company (“Ford” or the “Company”) has been sued for violations of the federal securities laws. The complaint asserts claims against the Company and certain of its senior executives under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in Ford securities between April 27, 2022 and July 24, 2024, inclusive. The case is pending in the U.S. District Court for the Eastern District of Michigan and is captioned Guzman v. Ford Motor Company, et al., No. 24-cv-12080.
 
If you incurred losses on your investments in Ford, you are encouraged to submit your information.
 
Why was Ford Sued for Securities Fraud?

Ford is an automotive manufacturing company that develops, delivers, and services a range trucks, cars, and luxury vehicles worldwide. The complaint alleges that during the relevant period, Ford misrepresented its warranty reserves and that it had completed a sequence of organizational changes designed to ensure higher quality and lower costs.

As alleged, these statements were materially false and misleading. In truth, Ford was experiencing higher warranty costs, and the warranty reserves did not accurately reflect the quality issues in its vehicles.
 
The Stock Declines as the Truth is Revealed

On July 24, 2024, after the market closed, Ford announced second quarter 2024 financial results (the “2Q24 Press Release”). The 2Q24 Press Release revealed that the Company’s “[p]rofitability was affected by an increase in warranty reserves” and “higher warranty costs.” It was reported that, in the second quarter, Ford’s warranty and recall costs totaled $2.3 billion, $800 million more than the first quarter and $700 million more than a year ago. This news caused the price of Ford’s stock to decline by $2.51 per share, or over 18%, to close at $11.16 per share on July 25, 2024.

What are my Rights?

If you purchased or otherwise acquired Ford securities between April 27, 2022 and July 24, 2024, inclusive, you may ask the Court no later than October 7, 2024, which is the first business day after 60 days from the date of the publication of notice of pendency of the action, to appoint you as Lead Plaintiff through counsel of your choice. To be a member of the Class, you need not take any action at this time. The ability to share in any potential future recovery is not dependent on serving as Lead Plaintiff.

If you incurred losses on your investments in Ford, you are encouraged to submit your information.

You can also contact:
Ross Shikowitz
ross@bfalaw.com
212-789-3619
 
All representation is on a contingency fee basis. Shareholders are not responsible for any court costs or expenses of litigation. The Firm will seek court approval for any potential fees and expenses.

Why Bleichmar Fonti & Auld LLP?

BFA is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs’ Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors (pending court approval), as well as $420 million from Teva Pharmaceutical Ind. Ltd. 

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