SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Fiat Chrysler Automobiles N.V. - FCAU
NEW YORK, Sept. 10, 2015 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Fiat Chrysler Automobiles N.V. ("Fiat Chrysler" or the "Company") (NYSE: FCAU). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Fiat Chrysler and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On June 28, 2015, Fiat Chrysler issued a recall of approximately 7,700 Jeep Grand Cherokee and Dodge Durango SUVs for potential braking and other problems, instructing the owners of the 65 vehicles known to have already been sold to immediately stop driving them.
On this adverse news, Fiat Chrysler shares dropped to $14.86, or 4.68%, on intraday trading on June 29, 2015.
On Sunday, July 26, 2015, the National Highway Traffic Safety Administration (NHTSA) announced the imposition on the company of a record $105 million fine for recalls affecting more than 11 million vehicles. The NHTSA penalties are tied to legal violations in an array of areas, including misleading regulators, inadequate repairs, and failing to alert car owners in a timely manner.
On this news, Fiat Chrysler shares have dropped as much as 0.89, or 5.87%, on intraday trading on July 27, 2015.
On Thursday, September 10, 2015, Fiat Chrysler announced that it is recalling nearly 1.7 million recent-model Ram pickups to check or repair wiring harnesses, airbags and steering components that may be faulty.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
SOURCE Pomerantz LLP
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