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Fiat Chrysler to pay US$110m to settle investor lawsuit
[MANHATTAN] Fiat Chrysler agreed to pay US$110 million to resolve shareholder claims that the automaker misled investors about diesel admissions and its failure to comply with US regulations, according to a court filing in Manhattan.
A group of investors sued in 2015, claiming Fiat Chrysler falsely claimed it was complying with safety regulations and lost money when it was disclosed that the company failed to properly carry out vehicle recalls, causing the shares to lose value. The settlement, on behalf of a class of shareholders, must be approved by a federal judge before it can take effect.