The information contained on this website is only a summary of the information presented in more detail in the Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Motion for an Award of Attorneys’ Fees and Reimbursement of Litigation Expenses; and (III) Settlement Fairness Hearing. Because this website is just a summary, you should review the Notice for additional details.
Summary of the Action and Settlement
In this securities class action, the Court-appointed Lead Plaintiff alleges that the Defendants made false and misleading statements to investors during the Class Period. Specifically, Lead Plaintiff alleges that Defendants made false and misleading statements in violation of the Securities Exchange Act of 1934 regarding (i) the existence and scope of a bribery scheme involving the National Training Center and certain members of the International Union, United Automobile, Aerospace and Agricultural Implement Workers of America; and (ii) the effects the scheme had on the 2015 Collective Bargaining Agreement an FCA affiliate, FCA US LLC, negotiated with the UAW.
Lead Plaintiffs, on behalf of themselves and the Settlement Class, have reached a proposed settlement of the Action with Defendants. In exchange for the Settlement and release of the Released Plaintiffs’ Claims, FCA has agreed to create a $5,000,000 cash fund, which may accrue interest, to be distributed, after deduction of Court-awarded attorneys’ fees and litigation expenses, Notice and Administration expenses, Taxes, and any other fees or expenses approved by the Court, among all Settlement Class Members who submit valid Claim Forms and are found to be eligible to receive a distribution from the Net Settlement Fund. If approved, will resolve all claims in the Action.
If you are a Settlement Class Member, your rights will be affected and you may be eligible for a payment from the Settlement.
The Settlement Class consists of:
all persons and entities who purchased or otherwise acquired, on a U.S. Exchange or in a transaction in the United States, FCA and/or STLA common stock between February 26, 2016 and January 27, 2021, both dates inclusive.
Also excluded from the Settlement Class are any persons and entities who or which exclude themselves by submitting a request for exclusion that is accepted by the Court. See “How do I exclude myself from the Settlement Class,” described in Question 11 in the Notice.
Please read the Notice to fully to understand your rights and options.
If you are a Settlement Class Member, in order to be potentially eligible to receive a payment from the Settlement, you must submit a Claim Form with adequate supporting documentation postmarked (if mailed), or online, no later than February 13, 2022.
Payments to eligible claimants will be made only after approval of the Settlement and the completion of all claims processing. Please be patient, as this process will take some time to complete.
|YOUR LEGAL RIGHTS AND OPTIONS IN THE SETTLEMENT:
|SUBMIT A CLAIM BY FEBRUARY 13, 2022.
||This is the only way to be eligible to receive a payment from the Settlement Fund.
|EXCLUDE YOURSELF FROM THE SETTLEMENT CLASS BY JANUARY 27, 2022.
||Get no payment. This is the only option that allows you to ever be part of any other lawsuit against the Defendants concerning the claims that have been asserted, or could have been asserted, by Lead Plaintiff or by any other member of the proposed Settlement Class in this Action. If you are considering excluding yourself from the Class, please note that there is a risk that any new claims asserted against the Defendants may no longer be timely and would be time-barred. See ¶ 48 in the Notice.
|OBJECT BY JANUARY 27, 2022.
||Write to the Court and explain why you object to the Settlement, the Plan of Allocation, or the Fee and Expenses Application. If you object, you will still be a member of the Settlement Class. See Question 14 in the Notice.
|GO TO A HEARING ON FEBRUARY 17, 2022 AT 9:30A.M., AND FILE A NOTICE OF INTENTION TO APPEAR SO THAT IT IS RECEIVED NO LATER THAN JANUARY 27, 2022.
||If you have filed a written objection and wish to appear at the hearing, you must also file a notice of intention to appear by January 27, 2022, which allows you to speak in Court, at the discretion of the Court, about the fairness of the Settlement, the Plan of Allocation, and/or the request for attorneys’ fees and Litigation Expenses. If you submit a written objection, you may (but do not have to) attend the hearing.
||Get no payment AND give up your rights to bring your own individual action.
How do I obtain more information?
More detailed information about the Action and the Settlement is contained in the Notice. If you have questions, you may contact the Claims Administrator by calling toll-free 1-833-916-3600; emailing Info@PanitzaFiatChryslerSecLitigation.com; or mailing a letter to:
Panitza Fiat Chrysler Securities Litigation
c/o JND Legal Administration
P.O. Box 91396
Seattle, WA 98111
Inquiries should NOT be directed to the Court, the Clerk of the Court, Defendants, or their counsel.