The United States District Court for the Eastern District of Michigan is handling a class action lawsuit on behalf of purchasers of Fiat Chrysler Automobiles NV (NYSE:FCAU). The lawsuit which involves securities of the period between October 29, 2014, through July 18, 2016, is under the supervision of the securities litigation law firm of Brower Piven.
The complaint claims that the defendants violated the Securities Exchange Act of 1934 by failing to disclose that the company was offering dealers financial incentives so as to manipulate vehicle’s sales figures. What a further complaint is that the news of possible inflation of vehicle sales figures has resulted in the decline of the value of FCA shares. Nonetheless, U.S. Department of Justice and the United States Securities and Exchange Commission are still investigating the illegal practice. It is a lawsuit that is creating a lot of interest from investors, but Involvement of any investor calls for an application of the same by September 27, 2016.
Investors encouraged to take action
Piven is calling in every investor who may have suffered a loss more than $100,000 from investment in FCA securities purchased on or after October 29, 2014, to seek redress. The firm says that anyone who wants to learn about this lawsuit and perhaps seek active participation as a lead plaintiff as a lead plaintiff can get information on its website at http://www.browerpiven.com/currentsecuritiescases.html. Brower Piven is also available by email at hoffman@browerpiven.com or by telephone at (410) 415-6616.
The lawsuit will not be a success unless there is substantial information about the Company’s conduct during the period in question. Thus Piven is calling on anyone and everyone the likes of former employees, shareholders and any other whistleblower with whatever information, however, trivial to contact the firm.
Nonetheless, there is optimism that the litigation will go through given the extensive experience of the Piven’s attorneys and particularly on securities. They are well-known for championing the rights of shareholders something they have been doing since the early 80’s. Retention Piven’s counsel will not have any financial obligation, but one can also pick on another choice of a lawyer.
