Tag Archives: contingent liability

Does GM have a contingent liability for its 2015 – 2019 Chevrolet Corvettes?

Recently, a class action lawsuit was filed against General Motors (GM) accuses GM of using inferior materials and a faulty manufacturing process that resulted in poor quality wheels on its 2015 – 2019 Chevrolet Corvette sport cars. The 18 parties who filed the lawsuit state that wheels on their Corvettes have bent or cracked even […]

Continue reading

How should Canada Dry account for the lawsuit filed against it because its ginger ale allegedly does not contain ginger root?

A woman has filed a lawsuit against Canada Dry and its parent company Keurig Dr Pepper[1] (NYSE: KDP), claiming that its ginger ale does not contain enough ginger to be a healthier alternative to sodas. The plaintiff purchased Canada Dry ginger ale when her children were sick, because she thought it would soothe their stomachaches […]

Continue reading

How would 3M account for the contingent liability arising from an environmental lawsuit?

The State of Minnesota is suing 3M (NYSE:MMM) for $5 billion in damages, alleging that 3M dumped chemicals it produced into landfills from the 1940s through the 1970s. The State asserts that those chemicals have now leached into local groundwater, affecting about 60,000 residents. 3M’s attorneys have responded that the chemicals have not been proven […]

Continue reading