US automotive giant Fiat Chrysler fined $ 40 million

usa automotive giant fiat chryslera 40 million dollars penalty
usa automotive giant fiat chryslera 40 million dollars penalty

In the U.S., automotive giant Fiat Chrysler was fined $ 40 million for showing car sales figures and misleading investors.

In a statement made by the U.S. Securities and Exchange Commission (SEC), Fiat Chrysler has agreed to pay a fine of 40 million dollars under the judicial settlement agreement it reached with the commission, in the investigation opened against forgery in sales figures.

The company was accused of misleading investors in the stock market by paying distributors, showing the high number of vehicles sold.

Fiat Chrysler promised to improve the sales notification processes and open the audit to the scope of the settlement.

Be the first to comment

your comment