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GPM Commences Investigation of Alleged Securities Fraud by Fiat Chrysler Automobiles N.V.

2015-10-13 12:19 ET - News Release


LOS ANGELES -- (Business Wire)

Glancy Prongay & Murray LLP (“GPM”) announces that it is investigating potential claims on behalf of investors of Fiat Chrysler Automobiles N.V. ("Fiat Chrysler" or the "Company") (NYSE:FCAU). The investigation concerns whether the Company violated specific sections of the Securities Exchange Act of 1934 by issuing materially misleading information to the investing public regarding the Company’s compliance with safety recalls. Investors who have lost over $50,000 on their Fiat Chrysler investment are encouraged to contact GPM at 310-201-9150.

On Sunday, July 26, 2015, the National Highway Traffic Safety Administration (NHTSA) announced an enforcement action and record $105 million fine imposed against Fiat Chrysler for the Company’s failure to adequately and timely address safety recalls affecting more than 11 million vehicles. The enforcement action comes after a July 2 public hearing at which NHTSA officials outlined problems with Fiat Chrysler’s execution of 23 vehicle safety recalls covering more than 11 million defective vehicles. Fiat Chrysler has admitted to violating the Safety Act in three areas: effective and timely recall remedies, notification to vehicle owners and dealers and notifications to NHTSA.

On this news, Fiat Chrysler shares fell 0.69, or 5%, to close on July 27, 2015 at $14.41 per share.

If you purchased Fiat Chrysler shares, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts:

Glancy Prongay & Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
shareholders@glancylaw.com
www.glancylaw.com

Source: Glancy Prongay & Murray LLP

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