Fiat Chrysler Automobiles N.V.
Company Name | Fiat Chrysler Automobiles N.V. |
Stock Symbol | FCAU |
Class Period | February 26, 2016 to November 20, 2019 |
Lead Plaintiff Motion Deadline | January 31, 2020 |
On November 20, 2019, General Motors Company (“GM”) filed a federal racketeering lawsuit against Fiat and its former executives, accusing Fiat of bribing United Auto Workers (“UAW”) officials to receive more favorable terms in labor negotiations. The lawsuit alleged that the scheme was authorized at the highest levels of Fiat Chrysler, including the Company’s late Chief Executive Officer Sergio Marchionne.
On this news, Fiat’s stock price fell $0.58 per share, or nearly 4%, to close at $15.00 per share on November 20, 2019.
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