Core Viewpoint - Ford Motor Company is facing a class action lawsuit due to alleged breaches of fiduciary duties by its board of directors, particularly concerning undisclosed quality issues and rising warranty costs that have negatively impacted profitability [1][4]. Financial Performance - On July 24, 2024, Ford reported second quarter financial results, indicating that profitability was adversely affected by increased warranty reserves and higher warranty costs [2]. - Warranty and recall costs for the second quarter totaled $2.3 billion, which is $800 million higher than the first quarter and $700 million more than the same period last year [2]. Stock Market Reaction - Following the announcement of the financial results, Ford's share price dropped by $2.51, or 18.36%, closing at $11.16 per share on July 25, 2024, with unusually high trading volume [3]. Allegations in Class Action - The class action complaint alleges that Ford's management made materially false or misleading statements and failed to disclose significant adverse facts about the company's operations and prospects, including: 1. Deficiencies in quality assurance of vehicle models since 2022 [4]. 2. Higher warranty costs resulting from these deficiencies [4]. 3. Inaccurate warranty reserves that did not reflect the quality issues in vehicles sold since 2022 [4]. 4. Likely suffering of profitability due to these issues [4]. 5. Misleading positive statements regarding the company's business and operations [4].

NEW YORK, Oct. 06, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Ford Motor Company (NYSE: F) between April 27, 2022 and July 24, 2024, both dates inclusive (the "Class Period"), of the important October 7, 2024 lead plaintiff deadline. SO WHAT: If you purchased Ford securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. WHAT TO DO N ...

NEW YORK, Oct. 03, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Ford Motor Company (NYSE: F) between April 27, 2022 and July 24, 2024, both dates inclusive (the "Class Period"), of the important October 7, 2024 lead plaintiff deadline. SO WHAT: If you purchased Ford securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. WHAT TO DO N ...

HAUPPAUGE, N.Y., Aug. 20, 2024 (GLOBE NEWSWIRE) -- Intelligent Product Solutions (IPS), a Forward Industries (NASDAQ: FORD) company, announced today that Brad Carlson joined the company as Vice President of Technology and Business Development. A leading research and development executive, Dr. Carlson has more than 20 years of experience in medical devices and industrial markets specializing in product strategy, new product development, and revenue growth through differentiated product launches. "We are plea ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ________________ Commission file number 001-34780 FORWARD INDUSTRIES, INC. (Exact name of registrant as specified in its charter) Ne ...

Core Viewpoint - A class action lawsuit has been filed against Ford Motor Company due to alleged misleading statements and failure to disclose material facts regarding warranty costs and vehicle quality issues, leading to significant financial losses for investors [1][5]. Financial Performance - Ford's second quarter 2024 financial results indicated that profitability was negatively impacted by an increase in warranty reserves and higher warranty costs, totaling $2.3 billion, which is $800 million more than the first quarter and $700 million more than the same period last year [3][4]. Stock Market Reaction - Following the announcement of the financial results, Ford's share price dropped by $2.51, or 18.36%, closing at $11.16 per share on July 25, 2024, with unusually high trading volume [4]. Allegations in the Lawsuit - The lawsuit claims that Ford's management made materially false and misleading statements and failed to disclose significant quality assurance deficiencies, resulting in higher warranty costs and an inaccurate reflection of warranty reserves, which ultimately affected the company's profitability [5].

Core Viewpoint - Ford Motor Company is under investigation for potential violations of federal securities laws and unlawful business practices, following a significant drop in its stock price after disappointing financial results [4][5][7]. Group 1: Investigation Details - Bragar Eagel & Squire, P.C. is leading the investigation on behalf of Ford stockholders [4]. - The investigation focuses on whether Ford has engaged in unlawful business practices that may have harmed investors [4]. Group 2: Financial Performance - On July 24, 2024, Ford reported its second quarter financial results, which fell short of consensus estimates due to quality issues with new vehicles leading to increased warranty costs [7]. - Following the announcement of these results, Ford's stock price decreased by $2.51, or 18.4%, closing at $11.16 per share on July 25, 2024 [5].

Expands North America Retail Operations Presence in the Midwest Expected to Add $550 Million in Estimated Annualized Revenue BLOOMFIELD HILLS, Mich., July 16, 2024 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG), a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers with operations across four continents and nine countries, announced today the acquisition of Bill Brown Ford in southeastern Michigan. Located in Livonia, ...

Core Viewpoint - Forward Industries, Inc. will implement a 1-for-10 reverse stock split effective June 18, 2024, to comply with Nasdaq's minimum bid price requirement [1][2]. Group 1: Reverse Stock Split Details - The reverse stock split will convert ten shares of common stock into one share, maintaining the par value at $0.01 per share [5]. - No fractional shares will be issued; any fractional shares will be rounded up to the nearest whole share [3]. - The reverse stock split will not affect stockholders' percentage interest in the company's equity, except for rounding adjustments [3]. Group 2: Compliance and Approval - The reverse stock split aims to help the company meet the $1.00 minimum bid price requirement for Nasdaq listing compliance [2]. - Shareholders approved the reverse stock split proposal at a special meeting on June 10, 2024, with the board of directors deciding on the 1-for-10 ratio [4]. Group 3: Operational Aspects - The company's transfer agent, Equiniti Stock Transfer, will manage the exchange process for the reverse stock split [7]. - Registered stockholders will not need to take action to receive post-split shares, as their positions will be automatically adjusted [7].

The Reverse Stock Split is primarily intended to bring the Company into compliance with the $1.00 minimum bid price requirement to maintain its listing on Nasdaq. There is no guarantee the Company will meet the minimum bid price requirement for a period of time sufficient to regain compliance with Nasdaq listing requirements. About: Forward (NASDAQ: FORD) is a New York-based global design, sourcing and distribution company serving top tier medical and technology customers worldwide. HAUPPAUGE, N.Y., June 14 ...