Fiat Chrysler Automobiles NV

0 DAYS LEFT TO SEEK LEAD PLAINTIFF STATUS

Case Summary
Company Name: Fiat Chrysler Automobiles NV
Stock Symbol : NYSE: FCAU
Class Period Start: 08/01/2014
Class Period End: 07/24/2015
Lead Plaintiff motion: 11/10/2015
Date Filed: 09/11/2015
Type of Case: Securities Class Action
Court: U.S. District Court for the Southern District of New York
Summary:

Thieler Law Corp advises investors with losses exceeding $100,000 of the November 10, 2015 lead plaintiff deadline in a class action lawsuit filed against Fiat Chrysler Automobiles NV (NYSE: FCAU)  (“Fiat Chrysler” or “the Company”). The suit is pending in the U.S. District Court for the Southern District of New York and investors, who purchased Fiat Chrysler securities between August 1, 2014 and July 24, 2015, have until November 10, 2015 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased Fiat Chrysler securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 866-6157 or emailing mail@thielerlaw.com .  No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose thatFiat Chrysler’s flaws in the Company’s manufacturing processes, supply chain, electronic security measures, and/or quality control rendered at least 3.1 million Chrysler cars and trucks unsafe to drive. The complaint also asserts that the defendants made false and misleading statements and/or allegedly failed to disclose that the Company’s slow completion rates for recalls, slow or inadequate notifications to consumers, and faulty approaches to addressing safety issues and improper actions by dealers were not in compliance with federal laws and regulations; and as a result of the foregoing, defendants’ statements about Chrysler’s business, operations, and prospects were false and misleading at all relevant times specified in the complaint.

On June 28, 2015, Fiat issued a recall of approximately 7,700 Jeep Grand Cherokee and Dodge Durango SUVs for potential braking and other problems. Owners were instructed to immediately stop driving them (there were 65 effected vehicles sold). After the release of this news, NYSE: FCAU stock fell $1.06 per share or over 6% to close at $14.53 per share on June 29, 2015.

On July 24, 2015, Chrysler issued a recall affecting approximately 1.4 million Jeep Grand Cherokee and Dodge Durango SUVs after it was demonstrated that a security flaw in the vehicles’ systems rendered the vehicles vulnerable to remote electronic manipulation (“hacking”), including cutting the vehicle’s brakes, shutting down the vehicle’s engine, steering the vehicle off the road, and shutting down the vehicle’s electronics systems.

On this news, the Company’s stock fell $0.39, or 2.5%, to close at $15.15 on July 24, 2015.

On Sunday, July 26, 2015, the National Highway Traffic Safety Administration (NHTSA) announced they had levied a record $105 million fine on the Company for recalls affecting more than 11 million vehicles.  The NHTSA penalties are tied to legal violations involving the misleading regulators, inadequate repairs, and failing to alert car owners in a timely manner. After the release of this news, NYSE: FCAU stock declined as much as 0.89, or 5.87%, on intraday trading on July 27, 2015.

If you were negatively impacted by your investment in Fiat Chrysler securities between August 1, 2014 and July 24, 2015 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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