NEW YORK, NY - 
(NewMediaWire) - January 23, 2024 - Kaplan Fox & Kilsheimer LLP reminds investors that a complaint has been filed on behalf of purchasers or acquirers of the securities of Cummins, Inc. (“Cummins” or the “Company”) (NYSE: CMI) between April 30, 2019 and December 21, 2023, inclusive (the “Class Period”). Click Here to Join Investigation.
On December 22, 2023, the United States Department of Justice (“DOJ”) issued a press release announcing, in relevant part, that "[e]ngine manufacturer Cummins Inc. today disclosed that it has reached an agreement in principle with the United States and State of California to pay a $1.675 billion penalty to settle claims that it violated the Clean Air Act by installing emissions defeat devices on hundreds of thousands of engines." According to the DOJ press release, the “$1.675 Billion Penalty Would Be Largest Ever for a Clean Air Act Violation and the Second Largest Ever Environmental Penalty.”
Additionally, on December 22, 2023, Cummins issued a press release disclosing that it “expects to record a charge of approximately $2.04 billion in the fourth quarter of 2023” to resolve proceedings with the DOJ and other regulators “involving approximately one million pick-up truck applications in the United States.”
Following this news, Cummins's stock price fell $7.01 per share, or 2.87%, to close at $236.99 per share on December 22, 2023.
If you are a member of the proposed Class, you may move the court no later than March 15, 2024 to serve as a lead plaintiff for the purported class. If you have losses, we encourage you to contact us to learn more about the lead plaintiff process.
WHY CONTACT KAPLAN FOX - Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey. With over 50 years of experience in securities litigation, Kaplan Fox offers the professional experience and track record that clients demand. Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.
If you have any questions about this Notice, your rights, or your interests, please contact:
Pamela A. Mayer
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(212) 329-8571
E-mail: pmayer@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
