Ford Motor Co F shares are trading lower Monday. The company reportedly said it plans to appeal the $1.7 billion verdict from Friday, which brought roof strength of some Ford trucks into question.
What Happened: Last week, Ford was told to pay $1.7 billion for a 2014 rollover accident that killed a Georgia couple. On Sunday, the company said it would appeal the verdict.
"While our sympathies go out to the Hill family, we do not believe the verdict is supported by the evidence, and we plan to appeal," Ford said in a statement to the Associated Press over the weekend.
Related Link: Ford To Contest $1.7B Verdict Over Pickup Truck Accident
Additionally, Automotive News reported the company is eliminating 3,000 jobs globally. The report indicated affected employees will be notified this week.
F Price Action: Ford has a 52-week high of $25.87 and a 52-week low of $10.61.
The stock was down 5.49% at $15.01 at press time, according to Benzinga Pro.
Photo: courtesy of Ford.
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