CMI - Why Engine Manufacturer Cummins Shares Are Down Today | Benzinga
Cummins Inc (NYSE: CMI) shares are trading lower after it penned an agreement in principle to resolve the U.S. regulatory claims regarding its emissions certification and compliance process for some engines of pick-up truck applications.
The company will pay a penalty of $1.675 billion for settlement of claims that it violated the Clean Air Act by installing emissions defeat devices on hundreds of thousands of engines.
In particular, the company had allegedly installed defeat devices on 630,000 model year 2013 to 2019 RAM 2500 and 3500 pickup truck engines and undisclosed auxiliary emission control ...