Ford Wins Key Round in UK Diesel Emissions Lawsuits
F sits 30% above its 52-week low of $10.68 on light trading volume (0.1× avg).
Summary
A UK judge rejected most allegations that Ford and other carmakers used illegal defeat devices in diesel vehicles, a significant early win in a massive legal battle. The ruling focused on 20 sample vehicles from five manufacturers, including Ford. While some adverse findings were made, the broad dismissal of principal claims substantially reduces the risk of a multi-billion-dollar liability. This follows a period of strategic shifts and strong Q1 results for Ford, and removes a key legal overhang that could have pressured the stock.
At the time of this announcement, F was trading at $13.91 on NYSE in the Manufacturing sector, with a market capitalization of approximately $55.4B. The 52-week trading range was $10.68 to $17.78. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.