Stellantis continues to find itself at the center of global controversies. The latest challenge comes from the Netherlands, where an independent foundation has initiated a class action lawsuit against the automotive giant. This new problem adds to an already difficult summer for the group. The accusation is serious: alleged fraud in emissions tests between 2014 and 2017. According to a document examined by Reuters, the responsibility would be attributed to Fiat Chrysler, one of the companies that gave birth to Stellantis through the merger with PSA in 2021. This situation adds to the problems with UAW in recent days.
Stellantis sued for alleged fraud: troubles seem never-ending
According to the foundation’s legal consultant, FCA allegedly failed to disclose the installation of unauthorized software in its vehicles. The purpose of this software would have been to mask the real emission levels.
The law firm Scott+Scott, representing the foundation, argues that this alleged conduct had significant consequences: “This caused damage to investors who purchased or held Fiat Chrysler shares.” This statement suggests that the alleged fraud would have not only deceived regulatory authorities but also negatively affected the value of shareholders’ investments. Stellantis, the group led by Carlos Tavares, firmly rejects the accusations and claims they are unfounded.
The law firm Scott+Scott provided details on potential participants in the class action. According to their statement, investors who might be eligible to participate in the claim are those who purchased or held Fiat Chrysler shares listed on the Milan Stock Exchange between October 2014 and May 2017. Behind the request would be an external funder, which according to available information would be associated with Fortress Investment Group, a major U.S. asset manager.
“This emissions scandal was hidden by Fiat Chrysler for years and has impacted thousands of investors. It’s time for the automaker to be held accountable through this class action,” said the foundation’s president Flip Schreurs. We recall that there was another problem in the past. FCA US LLC, a Netherlands-based unit of Stellantis, pleaded guilty in 2022 to conspiracy as part of a multi-year investigation by the U.S. Department of Justice into diesel emissions fraud.