Ferrari is sued by US drivers over brake defect [Reuters]
Ferrari N.V. Common Shares (RACE)
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Source: Reuters
has failed to fix vehicles at risk of a partial or total loss of braking capability. According to a proposed class action filed on Monday in San Diego federal court, recalls in 2021 and 2022 to address leaking brake fluid were only an interim measure, allowing Ferrari to keep selling thousands of cars with defective brakes. The complaint said the only fix was to replace defective master cylinders when leaks are found. "Ferrari was legally required to disclose the brake defect as a known safety defect and failed to do so," according to the complaint, which sought unspecified damages for drivers. In a statement on Tuesday, Ferrari did not specifically address the lawsuit but said its "highest priority" was the safety and well-being of its drivers. “We operate according to stringent safety and security guidelines to ensure that our vehicles always respect homologation specifications," Ferrari added. The lawsuit is led by Iliya Nechev, a San Marcos, California resident who bou
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RACE
News
- Ferrari (NYSE: RACE) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
- Ferrari enters into a partnership agreement with HPGlobeNewswire
- Lamborghini Tiptoes Toward Electric With New Urus Hybrid SUV [BNN Bloomberg (Canada)]BNN Bloomberg
- Ferrari: Valuation Revving Up Into The Red RPM Zone [Seeking Alpha]Seeking Alpha
- FERRARI TO ANNOUNCE FIRST QUARTER 2024 FINANCIAL RESULTS ON MAY 7GlobeNewswire
RACE
Earnings
- 2/1/24 - Beat
RACE
Sec Filings
- 4/24/24 - Form 6-K
- 4/22/24 - Form 6-K
- 4/22/24 - Form 6-K
- RACE's page on the SEC website