NEW YORK, NY / ACCESSWIRE / November 23, 2019 / Pomerantz LLP is investigating claims on behalf of investors of Fiat Chrysler Automobiles N.V. ("Fiat Chrysler" or the "Company") (NYSE:FCAU) Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Fiat Chrystler and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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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 Chrysler's stock price fell $0.58 per share, or 3.72%, to close at $15.00 per share on November 20, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
SOURCE: Pomerantz LLP