ROCHESTER HILLS, Mich.–(BUSINESS WIRE)–First Brands Group, LLC (“First Brands” or the “Company”) today issued a statement regarding the indictment of former First Brands Chief Executive Officer Patrick James and former Senior Vice President Edward James by the United States Department of Justice, as well as the guilty plea of former Vice President of Finance Peter Andrew Brumbergs.
The full statement can be found below:
“The criminal charges relate to alleged historical actions by certain former executives who are no longer with First Brands Group or involved in the management, governance, or day-to-day operations of the Company. While these matters concern past conduct, their impact is being felt now by thousands of people.
This is a tragic situation that has disrupted the lives of employees, families, and communities who depend on this business. We recognize the very real human toll of these events and the uncertainty many are facing.
The Special Committee of the Board of Managers continues to conduct an independent review of historical business practices, and the Company intends to continue pursuing all available claims and causes of action against Patrick James, Edward James, and others to maximize value for the estate. First Brands Group is fully cooperating with law enforcement and remains focused on advancing its ongoing sale process during this time.”
About First Brands Group
First Brands Group™ is a global automotive parts company that develops, markets and sells premium products through a portfolio of market-leading brands including: Raybestos® complete brake solutions, Centric Parts® replacement brake components, StopTech® performance brakes, FRAM® filtration products, Luber-finer® filtration products, TRICO® wiper blades, ANCO® wiper blades, Michelin® licensed wiper blades, Carter® fuel and water pumps, Autolite® spark plugs, StrongArm® lift supports, Carlson® brake hardware, CARDONE® new and remanufactured replacement parts, and our towing & trailering portfolio composed of REESE®, DRAWTITE®, BULLDOG®, TEKONSHA®, FULTON®, Westfalia® along with Hopkins® universal owned and licensed brands and Philips® licensed aftermarket lighting. The First Brands Group™ portfolio of world-class brands offers best-in-class technology, industry-leading engineering capabilities and superior customer service.
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