40 Million Dollar Penalty for Automotive Giant Fiat Chrysler in USA

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

In the US, automotive giant Fiat Chrysler was fined $ 40 million for misleading investors by showing vehicle sales figures high.

In a statement made by the US Securities and Exchange Commission (SEC), Fiat Chrysler, in the investigation of the fraud in sales figures, agreed to pay a fine of 40 million dollars under the judicial settlement agreement with the commission.

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.

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