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Fiat Chrysler pays $ 110 million to settle US investors' costume



(Reuters) – Italian-American automaker Fiat Chrysler Automobiles NV has agreed to pay $ 110 million to settle a lawsuit claiming that it failed US investors over surplus diesel emissions and failed to comply with federal security regulations, the company said. in a statement on Monday "continues to strongly deny the allegations of inaccuracy made in this trial" and said that the settlement is "fully covered by the company's insurance".

Investors filed in 2015 and charged the company misleading them by claiming that Fiat Chrysler was in compliance with the vehicle safety regulations and that the company was under-reporting its reserves for the cost of recalls.

In 201

5, Fiat Chrysler made statements with the National Highway Traffic Safety Administration that it failed to properly pursue 23 recalls of more than 11 million vehicles. It paid a US $ 105 million penalty, carried out additional recalls, and agreed to buy back hundreds of thousands of vehicles.

The security suit also claimed that Fiat Chrysler misled investors over the Department of Justice's allegations that they used defeat devices to allow diesel vehicles

In January, Fiat Chrysler approved a $ 800 million settlement to settle claims by the US Department of Justice and the State of California that it used illegal software to produce false results on diesel emission tests.

trial covers investors who bought Fiat Chrysler stock on a US exchange between October 13, 2014 and May 23, 2017. Lawyers for the investors estimated in a court claim that settlement equals 13.8 percent of maximum damage, it calls "an objective excellent results compared to historical statistics in class actions. "

The settlement must be approved by a federal judge in New York. [19659002]


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