September 28, 2020

Fiat Chrysler N.V. will pay an SEC penalty of $9.5 million to settle charges that it made misleading disclosures.  Specifically, in February 2016, the company publicly stated that it had conducted an internal audit to confirm that its vehicles complied with emissions standards.  This statement misleadingly failed to disclose the limited nature of the internal audit and other related material facts, including about the existence of ongoing government investigations into the company’s diesel vehicle emissions systems.  SEC

Tagged in: Financial and Investment Fraud, Misrepresentations, Securities Fraud,