Warren Buffet/ Forest River fined $5 million over safety issues
SQUAWK BOX -- Pictured: Warren Buffett, chairman and CEO of Berkshire Hathaway in an interview on May 4, 2015 -- (Photo by: Lacy O'Toole/CNBC/NBCU Photo Bank via Getty Images)
Photograph by Lacy O'Toole – Getty Images
The company could rack up $30 million in fines in the next three years.
Warren Buffett’s RV maker, Forest River, has been fined at least $5 million due to safety issues.
The Associated Press reported that the Indiana-based company is on probation and could see regulators fine it an additional $30 million during the next three years, if any other safety concerns crop up.
The Transportation Department said that Forest River failed to report required data on time and also did not issue a recall quickly when problems were found in 1,000 of its camper trailers, the publication reported.
“Safety is a critical shared responsibility, and when manufacturers fail to meet their responsibility, the Department will enforce the law,” according to Transportation Secretary Anthony Foxx.
Forest River, however, is reportedly working with the government to fix the issues and it is working on guidelines for the RV industry to use at large.
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