SHAREHOLDER ALERT: Cummins Inc. (CMI) Officers and Directors Face Shareholder Investigation Following Record-Setting $1.675 Billion Civil Penalty in Alleged "Defeat Devices" Emissions Scandal

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SAN FRANCISCO, Jan. 30, 2024 /PRNewswire/ -- Schubert Jonckheer & Kolbe LLP is investigating potential derivative claims on behalf of shareholders of Cummins Inc. (NYSE: CMI) relating to the company's role in an alleged scandal to violate vehicle emission standards under the Clean Air Act. On December 22, 2023, Cummins agreed to pay a $1.675 billion civil penalty with the U.S. Department of Justice, U.S. Environmental Protection Agency, and the State of California to resolve the allegations. In announcing the settlement, California Attorney General Rob Bonta stated that "Cummins knowingly harmed people's health and our environment when they skirted state emissions tests and requirements."

The $1.675 billion civil penalty is the largest amount ever recovered by the DOJ under the Clean Air Act, and the second-largest environmental penalty ever secured. The company will pay an additional $325 million for pollution mitigation projects, bringing the total costs to Cummins to over $2 billion.

Engine manufacturer Cummins was accused of using software "defeat devices" to illegally bypass emission testing and certification requirements on more than 600,000 diesel RAM pickup trucks for model years 2013 to 2019. Under the settlement, Cummins will also complete a nationwide recall to repair and replace the engine control software on these RAM 2500 and RAM 3500 trucks. The company has already accrued $59 million in costs related to recalling certain of these trucks.

The Schubert Firm is investigating potential wrongdoing by Cummins's directors and officers in connection with these allegations.

If you own stock in Cummins Inc. and wish to obtain additional information about your legal rights, please contact us today or visit our website at https://www.classactionlawyers.com/cummins.

About Schubert Jonckheer & Kolbe LLP

Schubert Jonckheer & Kolbe represents shareholders, employees, and consumers in class actions against corporate defendants, as well as shareholders in derivative actions against their officers and directors. The firm is based in San Francisco, and with the help of co-counsel, litigates cases nationwide.

Contact

Dustin L. Schubert

Schubert Jonckheer & Kolbe LLP

dschubert@sjk.law

Tel: 415-788-4220

Cision View original content:https://www.prnewswire.com/news-releases/shareholder-alert-cummins-inc-cmi-officers-and-directors-face-shareholder-investigation-following-record-setting-1-675-billion-civil-penalty-in-alleged-defeat-devices-emissions-scandal-302047866.html

SOURCE Schubert Jonckheer & Kolbe LLP

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