SAN
FRANCISCO, May 15, 2024 /PRNewswire/ -- Schubert
Jonckheer & Kolbe LLP reminds Cummins Inc. investors that the
firm is investigating potential legal claims arising from the
company's role in an alleged scandal to violate
vehicle emission standards. In December
2023, Cummins agreed to pay a record-setting $1.675 billion civil penalty with the U.S.
Department of Justice, U.S. Environmental Protection Agency, and
the State of California to resolve
the allegations. In announcing the settlement, California Attorney General Rob Bonta stated that "Cummins knowingly harmed
people's health and our environment when they skirted state
emissions tests and requirements."
This civil penalty is the largest amount ever recovered by the
DOJ under the Clean Air Act, and the second-largest environmental
penalty ever secured. The company will pay an additional
$325 million for pollution mitigation
projects, bringing the total costs to Cummins to over $2 billion.
Engine manufacturer Cummins was accused of using software
"defeat devices" to illegally bypass emission testing and
certification requirements on more than 600,000 diesel RAM pickup
trucks for model years 2013 to 2019. Under the settlement, Cummins
will also complete a nationwide recall to repair and replace the
engine control software on these RAM 2500 and RAM 3500 trucks.
Cummins has already accrued $59
million in costs related to recalling certain of these
trucks. Our investigation concerns whether current Cummins
shareholders may be able to bring claims against potential
wrongdoers for their role in causing shareholder losses.
If you own Cummins stock and want additional information
about your legal rights, please visit our website at
https://www.classactionlawyers.com/cumminsupdate.
About Schubert Jonckheer & Kolbe LLP
Schubert
Jonckheer & Kolbe represents shareholders, employees, and
consumers in class actions against corporate defendants, as well as
shareholders in derivative actions against their officers and
directors. The firm is based in San
Francisco, and with the help of co-counsel, litigates cases
nationwide.
Contact
Schubert Jonckheer & Kolbe LLP
Tel: (415) 788-4220
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SOURCE Schubert Jonckheer & Kolbe LLP