Ford (F), General Motors (GM) Shares See Pressure on Seatbelt Lawsuits
Tweet
Share
E-mailGet Alerts F Hot Sheet
Join SI Premium – FREE
The U.S. Supreme Court on Wednesday opened up the auto industry to new lawsuits over the design of seatbelts, pushing shares of Ford Motor Co. (NYSE: F) and General Motors Co. (NYSE: GM) lower in midday market movement on Wednesday.
The court ruled today that Mazda Motor Corp. must defend itself from claims involving the family of a woman killed in an MPV minivan crash.
The unanimous ruling from the justices said that companies could not be shield from claims that they should have installed safer seatbelts under the a 1989 federal seatbelt regulation.
The ruling caused shares of Ford to drop 4 percent to $14.62 in midday market movement on Wednesday, while shares of GM are down 3.16 percent to $34.64.
The court ruled today that Mazda Motor Corp. must defend itself from claims involving the family of a woman killed in an MPV minivan crash.
The unanimous ruling from the justices said that companies could not be shield from claims that they should have installed safer seatbelts under the a 1989 federal seatbelt regulation.
The ruling caused shares of Ford to drop 4 percent to $14.62 in midday market movement on Wednesday, while shares of GM are down 3.16 percent to $34.64.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- U.S., Canada discussing possible reduction in U.S. autos tariffs to 15% after some value content deductions from 25% currently - Reuters
- Detroit Automakers Fear North American Trade Deal Revamp Could Cost Them Billions - Reuters
Create E-mail Alert Related Categories
Insiders' Blog, LitigationSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
