Levi & Korsinsky announces the commencement of a class action in the USDC for the Eastern District of Michigan on behalf of shareholders of Fiat Chrysler Automobiles N.V. (NYSE: FCAU) who purchased shares between October 29, 2014 and July 18, 2016.
The complaint alleges that throughout the Class Period, Defendants made false and misleading statements and failed to disclose material adverse facts about the Company’s business and operations. Specifically, Defendants misrepresented the Company’s growth by purposefully inflating FCA’s vehicle sales numbers and falsely touting its streak of U.S. monthly vehicle sales growth (on a year-over-year basis). On January 12, 2016, a civil lawsuit was filed against the Company, alleging that the Company had inflated the number of year over year sales reported. Then on January 15, 2016, the Company filed a Form 6-K acknowledging that a lawsuit had been filed against FCA US LLC. As a result of these disclosures, Fiat Chrysler stock fell more than 15% between January 12, 2016 and January 20, 2016, representing an approximate $1.67 billion loss to the stock’s market capitalization.
If you suffered a loss in Fiat Chrysler Automobiles N.V. you have until September 27, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
To receive more information, please fill out the form.