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Stellantis Inks $5M Deal To End Investor FCA-UAW Bribes Suit

By Linda Chiem (May 17, 2021, 2:04 PM EDT) -- Auto giant Stellantis NV, formed by the merger of Fiat Chrysler and Groupe PSA earlier this year, has agreed to pay $5 million to end a consolidated securities class action in New York federal court alleging it misled investors by downplaying Fiat's role in a highly publicized bribery scheme with United Auto Workers union officials.

Lead plaintiff Nicholas S. Panitza and a proposed class of investors asked a Brooklyn federal judge Friday for preliminary approval of a $5 million deal with Stellantis, created by the merger of Fiat Chrysler Automobiles NV and Peugeot parent Groupe PSA, to end investors' claims that Fiat...

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