Shareholder Alert: Robbins LLP Announces Fiat Chrysler Automobiles N.V. (FCAU) Sued for Misleading Shareholders
December 03 2019 - 5:53PM
Business Wire
Shareholder rights law firm Robbins LLP announces that a
purchaser of Fiat Chrysler Automobiles N.V. (NYSE: FCAU) filed a
class action complaint for alleged violations of the Securities
Exchange Act of 1934 between February 26, 2016 and November 20,
2019. Fiat designs, engineers, manufactures, distributes, and sells
vehicles, components, and production systems.
If you suffered a loss as a result of Fiat's misconduct, click
here.
Fiat Chrysler Automobiles N.V.'s (FCAU) Accused of Engaging
in Bribery Scheme
According to the complaint, in February 2016, Fiat filed its
2015 Form 20-F, highlighting the positive opportunities provided
for its employees in its new collective bargaining agreement with
International Union, United Automobile, Aerospace and Agricultural
Implement Workers of America ("UAW"). In reference to the Company's
Code of Conduct, the form stated that "[Fiat] is committed to
complying fully with all applicable laws, including anti-bribery,"
which Fiat reaffirmed in its 2016 Form 20-F. Then, on June 26,
2017, the FBI filed an indictment against Fiat's former labor
relations chief for improperly funneling money to UAW officials. In
response, Fiat claimed "these egregious acts were neither known to
nor sanctioned by [Fiat]" and continued to insist the Company was a
victim of the wrongdoing in Fiat's 2017 and 2018 Form 20-F's.
Despite Fiat's claims, on November 20, 2019, General Motors ("GM")
filed a racketeering lawsuit against Fiat alleging that high-level
Fiat executives had bribed UAW leaders to win cost concessions in
2011 and 2015 and to gain UAW assistance in pressuring GM into a
merger with Fiat. On this news, Fiat's shares fell to close at $15
and continues to decline.
Fiat Chrysler Automobiles N.V. (FCAU) Shareholders Have Legal
Options
Contact us to learn more: Leo Kandinov (800) 350-6003
lkandinov@robbinsllp.com Shareholder Information Form
Robbins LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional
investors in shareholder derivative and securities class action
lawsuits, and has helped its clients realize more than $1 billion
of value for themselves and the companies in which they have
invested. Click here to receive free alerts from Stock Watch when
companies engage in wrongdoing.
Attorney Advertising. Past results do not guarantee a similar
outcome.
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version on businesswire.com: https://www.businesswire.com/news/home/20191203006092/en/
Leo Kandinov Robbins LLP 5040 Shoreham Place San Diego, CA 92122
lkandinov@robbinsllp.com (619) 525-3990 or Toll Free (800) 350-6003
www.robbinsllp.com
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