Way back in May, we first brought out word of what we called the “Time Lawyer” lawsuit that legacy automaker Ford (F) leveled against its lawyers. That lawsuit featured one lawyer apparently somehow managing to compress time and space sufficiently to create a workday that went for 57.5 hours. The courts, meanwhile, apparently did not want to hear it, as they dismissed Ford’s suit. The news did not hurt investors much, as they gave Ford stock a fractional boost in Wednesday afternoon’s trading.
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Apparently, the old saw about sending a lawyer to beat a lawyer still applies, because despite the baffling nature of the legal billing involved, it was, apparently, still legal. Michelle Williams Court, a United States District Judge, declared that the Knight Law Group and the other defendants in the case enjoy what is known as “Noerr-Pennington immunity.” This prevents antitrust claims from being filed against parties that are petitioning the government, even if the petition itself encourages the reduction of competition, reports note.
Further, Ford’s attempt to use Racketeer Influenced and Corrupt Organizations (RICO) Act statutes in the lawsuit was considered “deficient.” Yet this may not be the last we hear of this lawsuit. Ford counsel Douglass Lampe noted that the Court did not “…find Ford was wrong on the facts or that the lemon law lawyers did not commit fraud.” Court also left the door open, allowing Ford until December 22 to file the lawsuit again.
Meanwhile At Ford Field
With Thanksgiving Day just hours away, some are already turning their thoughts toward tomorrow’s football action. And word emerged that the Ford Field culinary team has already been hard at work getting a special menu together for the big games on the big day.
Naturally, turkey will be front and center, with turkey legs, cornbread dressing, and a “cranberry barbecue sauce” involved. But also, there will be new items like “Fourth and Feast Fries,” a dish using waffle fries as a base, with roast turkey, cheese curds, gravy, cranberry sauce and crispy onions over the whole affair. Finally, there is “Jahmyr Gibbs’ Spin Dash Combo,” which features a pepperoni pizza smashburger, ring-shaped tater tots, and blue Sour Patch Kids candy. Several cocktails will also be on hand.
Is Ford Stock a Good Buy Right Now?
Turning to Wall Street, analysts have a Hold consensus rating on F stock based on two Buys, nine Holds and one Sell assigned in the past three months, as indicated by the graphic below. After an 18.65% rally in its share price over the past year, the average F price target of $12.63 per share implies 4.5% downside risk.
