Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages investors who have suffered losses of over $100,000 with Stellantis to contact him directly to discuss their options
NEW YORK CITY, NY / ACCESSWIRE / August 28, 2024 / If you suffered losses of more than $100,000 with Stellantis between February 15, 2024 and July 24, 2024 and would like to discuss your legal rights, call Josh Wilson, partner at Faruqi & Faruqi, directly at 877-247-4292 or 212-983-9330 (ext. 1310).
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Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Stellantis NV (“Stellantis” or the “Company”) (NYSE:STLA) and reminds investors of the Deadline: 15 October 2024 to serve as lead plaintiff in a federal securities class action lawsuit filed against the Company.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. Since its founding in 1995, the firm has recovered hundreds of millions of dollars for investors. See www.faruqilaw.com.
As discussed in detail below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose material adverse facts about inventory levels, pricing and market share stabilization.
On July 25, 2024, Stellantis issued a press release announcing its financial results for the first half of 2024. The company reported a sharp decline in profits that were below forecasts, citing weak margins and high inventories at its U.S. operations. In addition, Stellantis CEO Carlos Tavares indicated that the company was willing to divest from underperforming brands in its portfolio, while Chief Financial Officer Natalie Knight explained the need to take “decisive action to address operational challenges” in North America, including reducing production and pricing for the company’s vehicles.
Following this news, Stellantis’ stock price fell $1.51 per share, or 7.7%, to close at $18.09 per share on July 25, 2024.
The court-appointed lead plaintiff will be the investor with the greatest financial interest in the relief sought by the class, who is reasonable and typical of class members, and who will direct and oversee the litigation on behalf of the putative class. Any member of the putative class may, through counsel of his or her choosing, ask the court to serve as lead plaintiff, or he or she may choose to do nothing and remain an absent class member. Your ability to share in any relief will not be affected by your decision to serve as lead plaintiff.
Faruqi & Faruqi, LLP also encourages anyone with information about Stellantis’ conduct to contact the company, including whistleblowers, former employees, shareholders and others.
Learn more about the Stellantis Class action lawsuit, go to www.faruqilaw.com/STLA or Call Faruqi & Faruqi Partner Josh Wilson direct at 877-247-4292 or 212-983-9330 (extension 1310).
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SOURCE: Faruqi & Faruqi, LLP
