We are investigating Fiat Chrysler Automobiles N.V. (FCAU) (“Fiat Chrysler” or the “Company”) for potential violations of the federal securities laws.
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.