SAN DIEGO, Aug. 16, 2024 (GLOBE NEWSWIRE) —
Robbins LLP informs investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired Stellantis N.V. (NYSE: STLA) securities between February 15, 2024 and July 24, 2024. Stellantis designs, engineers, manufactures, distributes and sells vehicles across five portfolios: (i) luxury vehicles under the Maserati brand; (ii) premium vehicles covered by Alfa Romeo, DS and Lancia brands; (iii) global sport utility vehicles under the Jeep brand; (iv) American brands covering Dodge, Ram; and Chrysler vehicles and (v) European brands covering Abarth, Citroën, Fiat, Opel, Peugeot and Vauxhall vehicles.
For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.
The Allegations: Robbins LLP is Investigating Allegations that Stellantis N.V. (STLA) Misled Investors Regarding its Business Prospects
According to the complaint, defendants provided investors with material information regarding Stellantis’ expected revenue for the full year 2024. Defendants’ statements included, among other things, Stellantis’ reduction of inventory levels, pricing improvements, and expansion of its product offering thereby supporting defendants’ decision to forecast double-digit adjusted operating income (AOI) margin in 2024, as well as positive industrial free cash flow. At the same time, defendants concealed material adverse facts concerning the Company’s inventory levels, pricing, and market share stabilizations. Defendants issued a press release on July 25, 2024, announcing the Company’s financials for the first half of 2024, which missed consensus and were expecting a disappointing “near – term outlook.” On this news, the price of Stellantis’ common stock declined from $19.60 per share on July 24, 2024, to $17.66 per share on July 26, 2024.
What Now: You may be eligible to participate in the class action against Stellantis N.V. Shareholders who want to serve as lead plaintiff for the class must file their papers with the court by October 15, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Robbins LLP: Some law firms issuing releases about this matter do not actually litigate securities class actions; Robbins LLP does. A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. Since our inception, we have obtained over $1 billion for shareholders.
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