Cummins Inc. Investors: Chance to Lead Securities Fraud Lawsuit

March 1, 2024 : Investors in Cummins Inc. (NYSE: CMI) who suffered losses during a specific period are being presented with the opportunity to take a leading role in a recently filed securities fraud lawsuit. The lawsuit, initiated by Glancy Prongay & Murray LLP (GPM), seeks a lead plaintiff to represent the interests of a broader class of investors who allege the company engaged in deceptive practices.

The lawsuit centers on accusations of material misrepresentations made by Cummins throughout a defined timeframe, known as the “Class Period.” The complaint contends that the company failed to disclose crucial information concerning its environmental practices and potential legal consequences. Specifically, the lawsuit alleges that:

Continued production of non-compliant engines: Despite prior assurances regarding its commitment to environmental regulations, Cummins allegedly continued to manufacture engines equipped with unlawful emission-defeating devices.

Understated legal risks: The lawsuit claims that Cummins downplayed these actions’ potential legal and financial repercussions, leading to an underestimation of the company’s true risk profile.

Overstated environmental commitment: Due to the above factors, the lawsuit asserts that Cummins’ positive statements regarding its environmental stewardship lacked a factual basis and misled investors.

These alleged omissions and misrepresentations have artificially inflated Cummins’ stock price during the Class Period. When the true nature of the company’s practices came to light, investors reportedly suffered significant losses as the stock price plummeted.

The lawsuit seeks class-action status, which, if granted by the court, would allow all investors who purchased Cummins stock during the Class Period and experienced financial losses to join the case without filing individual lawsuits. The appointed lead plaintiff would then take an active role in representing the interests of the entire class of affected investors throughout the legal proceedings.

GPM encourages potentially affected investors to contact the law firm to discuss their eligibility to serve as lead plaintiffs and participate in the lawsuit. It is crucial to reiterate that the accusations against Cummins are just allegations. The company has not yet had the opportunity to respond to the lawsuit, and no court has found them liable for any wrongdoing.

Investors are advised to conduct their research and consult with a financial advisor before making any investment decisions, including joining a lawsuit.