Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the Eastern District of New York on behalf of shareholders of Fiat Chrysler Automobiles N.V. who purchased shares between February 26, 2016 and November 20, 2019.
Fiat Chrysler and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On November 20, 2019, General Motors (“GM”) filed a racketeering lawsuit against the Company in federal court alleging that high-level officers of the Company had authorized a bribery scheme with labor union representatives in order to win acceptance of cost concessions in 2011 and 2015 as well as pressure GM into a merger with the Company.
On this news, the price of Fiat Chrysler’s shares plummeted.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until January 31, 2020 to request that the court appoint them lead plaintiff.