Fiat Chrysler Hit With Investor Suit Over UAW Bribes

Law360 (December 3, 2019, 7:08 PM EST) -- Fiat Chrysler was hit with a proposed securities class action in New York federal court Monday alleging it misled investors for years about the company's participation in a scheme to bribe labor union officials and score favors during collective bargaining.

Plaintiff Jung Kyoon Kong, who is represented by The Rosen Law Firm PA, launched a suit accusing Fiat Chrysler Automobiles NV and top executives of signing off on misleading U.S. Securities and Exchange Commission filings, conference calls and other public statements that artificially inflated the automaker's stock price and damaged investors. Kong's complaint asserts securities law violations for a period stretching...

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