Fri Sep 13 10:36:00 UTC 2024: ## Ford Faces Lawsuit Over Alleged Misleading Statements About Warranty Reserves

**NEW YORK, Sept. 13, 2024** – Law firm Bleichmar Fonti & Auld LLP has filed a lawsuit against Ford Motor Company, alleging that the company misled investors about its warranty reserves and quality control measures. The class action lawsuit, filed in the U.S. District Court for the Eastern District of Michigan, claims that Ford made false and misleading statements about its warranty reserves, despite experiencing higher than anticipated warranty costs.

The lawsuit alleges that during a period leading up to July 24, 2024, Ford publicly stated that it had implemented organizational changes designed to improve quality and reduce costs. However, the complaint argues that these claims were false, as Ford was actually facing higher warranty costs due to quality issues in its vehicles.

This alleged deception came to light on July 24, 2024, when Ford announced its second quarter 2024 financial results. The company revealed that its profitability was significantly affected by an increase in warranty reserves, with total warranty and recall costs reaching $2.3 billion. This news caused Ford’s stock price to drop by over 18% the following day.

Investors who purchased Ford securities during the relevant period are encouraged to contact Bleichmar Fonti & Auld LLP to explore their legal options. The firm is representing plaintiffs on a contingency fee basis, meaning investors are not responsible for any upfront costs.

“This lawsuit seeks to hold Ford accountable for its alleged deceptive statements and protect the interests of investors who were misled,” said Ross Shikowitz, an attorney at Bleichmar Fonti & Auld LLP. “We believe that Ford’s misrepresentations caused significant financial harm to investors, and we are determined to seek justice for them.”

The case, captioned Guzman v. Ford Motor Company, et al., No. 24-cv-12080, is currently pending in the U.S. District Court for the Eastern District of Michigan. Investors have until October 7, 2024, to ask the Court to be appointed as lead plaintiff in the case.

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