BorgWarner to pay $950,000 to settle asbestos accounting investigation

borgwarner HQ auburn hills-main_i_i.jpg — BorgWarner's headquarters in Auburn Hills. (BorgWarner)

By:

Crain's Detroit Business

August 26, 2020 09:43 PM

Michigan auto supplier BorgWarner Inc. misled investors about future liabilities for asbestos lawsuits, according to federal regulators, and has settled a lawsuit by paying a $950,000 fine.

Featured Stories

U.S. tariffs on imported vehicles are in effect, with parts duties following soon

What vehicle parts are now subjected to tariffs? Powertrain, suspension, safety and more

MSRP and dealers and finance, oh my! Why tariff price impacts may vary

Here’s our list of the 2025 Top 150 dealership groups

Latest News

Stellantis laying off nearly 1,000 workers in U.S. as tariffs pause production at some plants in Canada, Mexico

Daily 5 report for April 3: Stocks crash, job cuts emerge, costs rise as tariff chaos begins

Infiniti indefinitely stops crossover production in Mexico, citing Trump tariffs

Audi holding all vehicles delivered to U.S. ports after April 2

Staying current is easy with newsletters delivered straight to your inbox.

See More in Suppliers Legacy

Forvia posts slightly lower Q3 sales, but wins new business from Chinese automakers

Longtime Ford supplier Dana explores sale of off-highway unit, report says

Daily 5 report for Oct. 18: Bosch and Rivian's court fight isn't the typical supplier vs. automaker dispute

Nemak's Q3's net income takes a tumble

Staying current is easy with newsletters delivered straight to your inbox.