FCA Agrees to Settle Investor Lawsuit over Diesels, Recalls

April 08, 2019 at 4:19 PM

Fiat Chrysler Automobiles NV has agreed to pay certain shareholders $110 million to settle claims that the company misled them about recall costs and its problems with diesel emissions.

FCA “vigorously” denies any wrongdoing in the class action lawsuit, which was filed in a federal court in New York City four years ago. The agreement, which awaits approval by a federal judge, applies to investors who purchased shares in FCA between October 2014 and May 2017.

The plaintiffs assert that news about FCA’s missteps in handling multiple recalls, and the company’s protracted battle over emissions tests for its diesels, caused investors to lose money.