SAN FRANCISCO, March 12, 2024 (GLOBE NEWSWIRE) -- Hagens Berman urges Cummins Inc. (NYSE:CMI) investors who suffered substantial losses to submit your losses now.
Class Period: Apr. 30, 2019 – Dec. 21, 2023
Lead Plaintiff Deadline: Mar. 15, 2024
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Cummins Inc. (CMI) Securities Fraud Class Action:
In a report to clients, analysts at UBS recently commented on Cummins' agreement to pay a $1.675 billion fine for installing devices on hundreds of thousands of engines to allow them to emit excess pollution, the largest-ever civil penalty for a Clean Air Act violation.
UBS remarked that "the settlement is bigger than we were expecting," noting that it "equates to ~5.8% of [Cummins'] current market cap." UBS emphasized the "cash drag" the settlement presents, stating that "payment /charge are not tax deductible ...