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NEW YORK, — Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Fiat Chrysler Automobiles N.V. (NYSE: FCAU) resulting from allegations that Fiat may have issued materially misleading business information to the investing public.
On November 20, 2019, General Motors Company (“GM”) filed a federal racketeering lawsuit against Fiat Chrysler and its former executives, accusing Fiat Chrysler 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.
On this news, Fiat’s stock price fell $0.58 per share, or 3.72%, to close at $15.00 per share on November 20, 2019.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Fiat investors. If you purchased shares of Fiat please visit the firm’s website at http://www.rosenlegal.com/cases-register-1732.html to join the class action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at [email protected] or [email protected]
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.
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