Whirlpool To Pay $11.5M Civil Penalty For Failure To Immediately Report Glass Cooktops Posing Burn And Fire Hazards
Portfolio Pulse from Benzinga Newsdesk
Whirlpool has agreed to pay an $11.5M civil penalty to settle charges that it failed to immediately report glass cooktops posing burn and fire hazards, as required by law.
August 24, 2023 | 8:03 pm
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NEGATIVE IMPACT
Whirlpool's settlement of $11.5M for failing to report hazardous products could negatively impact its financials in the short term.
Whirlpool's failure to report hazardous products and the subsequent penalty could lead to a negative perception among investors, potentially affecting the stock price. Additionally, the financial burden of the penalty could impact the company's short-term financial performance.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100