Stellantis To Settle Multi-Year DOJ Probe for $300M

Stellantis N.V. STLA, owned U.S. business of Fiat Chrysler Automobiles, looks to pay $300 million to resolve a multi-year U.S. Justice Department diesel emissions fraud probe.
FCA U.S.'s non-compliance with the emissions provisions for over 100,000 older Ram pickup trucks and Jeep sport-utility vehicles in its U.S. lineup led to the penalty, Reuters reports.
The DOJ alleged FCA U.S. "purposely calibrated the emissions control systems" to produce fewer emissions during the federal test procedures than during normal driving conditions.
The settlement includes a $203.6 million forfeiture penalty and a $96.1 million fine.
The FCA US previously paid a $311 million civil penalty and $183 million compensation for a class-action diesel lawsuit.
FCA U.S. will be on probation for three years.
FCA U.S. needs to conduct an initial review of its compliance with the Clean Air Act and inspection and testing procedures, submit a report and prepare at least two follow-up reviews and reports.
Price Action: STLA shares traded higher by 1.49% at $15.01 in premarket on the last check Monday.

Momentum14.78

Growth41.09

Quality26.67

Value97.07

Short

Medium

Long