NEWTOWN, Pa., Jan. 19, 2024 (GLOBE NEWSWIRE) -- The law firm of Edelson Lechtzin LLP is investigating securities fraud claims on behalf of all purchasers of Cummins Inc. (“Cummins” or the “Company”) (NYSE: CMI) securities between April 30, 2019, and December 21, 2023, inclusive (the “Class Period”).
Investors who purchased Cummins Inc. common stock may move the U.S. District Court for the Central District of California to appoint them as lead plaintiff, no later than March 15, 2024. Current holders of Cummins stock may pursue corporate governance reforms. Please contact Edelson Lechtzin LLP at 844-696-7492 to discuss your investment losses, or by e-mail at elechtzin@edelson-law.com. A copy of the Class Action Complaint can be viewed HERE.
Background on Cummins Inc.
Founded in 1919 and headquartered in Columbus, Indiana, Cummins is a globally recognized multinational corporation that specializes in designing, manufacturing, and distributing a broad range of engines, filtration, and power generation products.
The Securities Fraud Claims
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or omissions regarding Cummins’ business, operations, and prospects, including that: (i) contrary to its post-April 2019 assurances about its commitment to compliance, Cummins continued to produce engines with unlawful emission-defeating devices from 2019 to 2023; (ii) accordingly, Cummins understated its legal and regulatory risk, and misrepresented its commitment to environmental protection; and (iii) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On Dec. 22, 2023, Cummins issued a press release announcing an agreement in principle with the U.S. Environmental Protection Agency, the California Air Resources Board (“CARB”). On the same day, the United States Department of Justice released a press release titled “Attorney General Merrick Garland Statement on the Agreement in Principle with Cummins to Settle Alleged Installation of Illegal Defeat Devices in Engines.” On this news, Cummins’s stock price fell by $7.01 per share, or 2.87%, to close at $236.99 on December 22, 2023.
For more information, please contact:
Marc H. Edelson, Esq.
Eric Lechtzin, Esq.
EDELSON LECHTZIN LLP
411 S. State Street, Suite N-300
Newtown, PA 18940
Phone: 844-696-7492 or 215-867-2399 ext. 1
Email: medelson@edelson-law.com
Email: elechtzin@edelson-law.com
Web: www.edelson-law.com
Edelson Lechtzin LLP is a national class action law firm with offices in Pennsylvania and California. In addition to cases involving securities and investment fraud, our lawyers focus on class and collective litigation in cases alleging violations of the federal antitrust laws, employee benefit plans under ERISA, wage theft and unpaid overtime, consumer fraud, and dangerous and defective drugs and medical devices.
This press release may be considered Attorney Advertising in some jurisdictions. No class has been certified in this case, so you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. Your ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
