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Fiat Chrysler Automobiles N.V. (NYSE: FCAU) Investor Securities Class Action Lawsuit 12/02/2019

  • If you purchased shares of Fiat Chrysler Automobiles N.V. (NYSE: FCAU), you may have certain options. Please contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
Fiat Chrysler Automobiles NV
Security
NYSE: FCAU

Case Name
Fiat Chrysler Shareholder Class Action Lawsuit 12/02/2019
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Eastern District of New York

Class Period Begin
Class Period End
Deadline To File for Lead
Settlement Notice
Fiat_Settlement_05_14_2021.pdf
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Settlement Overview

Date Settled
Date Settled
Settlement Amount
$5,000,000.00

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Summary

May 14, 2021 - A stipulation of settlement was filed by the parties.

January 28, 2021 - A second amended complaint was filed.

June 1, 2020 - An amended complaint was filed.

December 2, 2019 - An investor in shares of Fiat Chrysler Automobiles N.V. (NYSE: FCAU) filed a lawsuit in the U.S. District Court for the Easter District of New York over alleged violations of Federal Securities Laws by Fiat Chrysler Automobiles N.V. in connection with certain allegedly false and misleading statements made between February 26, 2016 and November 20, 2019.

On November 20, 2019, General Motors Company ( GM ) filed a federal racketeering lawsuit against Fiat Chrysler Automobiles N.V. and its former executives, accusing Fiat Chrysler Automobiles N.V. of bribing United Auto Workers ( UAW ) officials to receive more favorable terms in labor negotiations.

Specifically, GM alleged that Fiat Chrysler corrupted collective bargaining agreements between GM and UAW in 2009, 2011 and 2015 by paying millions in dollars in bribes, and that the alleged scheme was authorized at the highest levels of Fiat Chrysler, including the Company's late Chief Executive Officer Sergio Marchionne.

Shares of Fiat Chrysler Automobiles N.V. (NYSE: FCAU) declined from $16.25 per share on November 12, 2019 to as low as $14.67 per share on December 2, 2019.

According to the complaint the plaintiff alleges on behalf of purchasers of Fiat Chrysler Automobiles N.V. (NYSE: FCAU) common shares between February 26, 2016 and November 20, 2019, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between February 26, 2016 and November 20, 2019, the defendants made false and/or misleading statements and/or failed to disclose that Fiat Chrysler Automobiles N.V. employed a bribery scheme to obtain favorable terms in its collective bargaining agreement with International Union, United Automobile, Aerospace and Agricultural Implement Workers of America, that high-ranking Fiat Chrysler Automobiles N.V. official were aware of and authorized the scheme, and that due to the foregoing, defendants’ statements about Fiat Chrysler Automobiles N.V.’s receivables, business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Date Settled