SAN FRANCISCO, Dec. 04, 2019 (GLOBE NEWSWIRE) -- Hagens Berman urges Fiat Chrysler Automobiles N.V. FCAU investors who have suffered losses in excess of $100,000 to submit their losses now to learn if they qualify to recover compensable damages. A securities fraud class action has been filed against the company and senior executives.
Class Period: Feb. 26, 2016 - Nov. 20, 2019
Lead Plaintiff Deadline: Jan. 31, 2020
Sign Up: www.hbsslaw.com/investor-fraud/FCAU
Contact An Attorney Now: FCAU@hbsslaw.com
510-725-3000
Fiat Chrysler Automobiles N.V. (FCAU) Securities Class Action:
According to the complaint, Defendants throughout the Class Period misrepresented and actively concealed that: (1) Fiat and its senior management, including the late CEO Sergio Marchionne, were engaged in an illicit bribery scheme to win concessions from labor union IAW; and (2) due to the scheme, Defendants' statements about Fiat's labor costs, receivables, business, operations, and prospects were materially false and misleading.
The complaint alleges that the market learned the truth on November 20, 2019, when General Motors filed an unprecedented racketeering lawsuit against Fiat, accusing Fiat of engaging in a decade-long labor corruption conspiracy with IAW designed to force GM's merger with Fiat.
On this news, Fiat's shares fell sharply, wiping out nearly $1 billion in market capitalization in a single trading day.
If you invested in Fiat between Feb. 26, 2016 and Nov. 20, 2019 (the "Class Period") and suffered significant losses, you may qualify to be a lead plaintiff – one who selects and oversees the attorneys prosecuting the case. Contact Hagens Berman immediately for more information about the case and being a lead plaintiff.
"We're focused on investors' losses and holding Fiat accountable for concealing this massive labor corruption scheme," said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you purchased shares of Fiat and suffered significant losses, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Fiat Chrysler Automobiles should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email FCAU@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Contact:
Reed Kathrein, 510-725-3000
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