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Ferrari N.V. (NYSE:RACE) reportedly faces a lawsuit in the U.S. after drivers claim the luxury carmaker failed to address braking issues.
Drivers filed a proposed class action in San Diego federal court, alleging Ferrari neglected to fix brake problems, posing safety risks, according to a report from Reuters.
The drivers alleged that the recalls made in 2021 and 2022 concerning the leaking brake fluid were only a temporary measure.
The U.S. recalls covered Ferrari models, including versions of the 458 and 488, produced over about two decades.
Despite the recall, the company continued to sell thousands of cars with defective brakes, said the drivers, as per the report.
“Ferrari was legally required to disclose the brake defect as a known safety defect and failed to do so,” the complaint said.
The report further noted Ferrari’s statement on commitment to driver safety, but the company did not directly address the lawsuit, emphasizing adherence to safety guidelines.
Price Action: RACE shares are trading higher by 1.03% at $430.91 on the last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Posted In: RACE
