Ford discloses DOJ has opened criminal investigation into emissions matter - MarketWatch
Ford Motor Co. F, +8.62% disclosed Friday that the U.S. Department of Justice has opened a criminal investigation into the company's previously disclosed concerns involving the automaker's U.S. emissions certification process. Meanwhile, the stock rallied 7.3% in premarket trade, after the company reported late Thursday earnings that beat expectations. Ford said the matter focuses on issues relating to road load estimations, and disclosed the matter to the U.S. Environmental Protection Agency and the California Air Resources Board in February. Ford said it was "fully cooperating" with all government agencies. "Because this matter is still in the preliminary stages, we cannot predict the outcome, and we cannot provide assurance that it will not have a material adverse effect on us," the company stated in its quarterly filing. The stock has run up 23% year to date, while the Dow Jones Industrial Average DJIA, -0.10% has gained 13%.
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2019-04-26 13:05:00Z
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