Investors Found To Have Properly Pleaded Scienter In Fiat Stock Securities Suit

(December 19, 2017, 10:22 AM EST) -- FLINT, Mich. — Automobile manufacturer Fiat Chrysler Automobiles N.V. (FCA) and certain of its executive officers have failed to show that lead plaintiffs in a securities class action lawsuit have not properly pleaded materiality or scienter in claiming that the defendants misrepresented the company’s American retail sales in violation of federal securities laws, a federal judge in Michigan ruled Dec. 14 in denying the defendants’ motion to dismiss (Carl Palazzolo, et al. v. Fiat Chrysler Automobiles N.V., et al., No. 16-12803, E.D. Mich., 2017 U.S. Dist. LEXIS 205572)....

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