An independent foundation has filed a class action lawsuit in the Netherlands against Stellantis for alleged fraud in emissions tests on its vehicles.
The Dutch non-profit foundation Fiat Chrysler Investors Recovery Stichting has filed a class action lawsuit in the Netherlands against Stellantis over alleged emissions testing fraud by one of its predecessor companies, Fiat Chrysler. The latter failed to disclose that it had installed illegal software in its vehicles to mask emissions from at least 2014 to 2017.
As a result, the automaker "significantly harmed investors who purchased and/or held Fiat Chrysler stock," the foundation's legal counsel, law firm Scott+Scott, said in a statement.
Scott+Scott said investors potentially eligible to participate in the lawsuit are those who bought or held Fiat Chrysler shares on the Milan stock exchange between October 2014 and May 2017. The lawsuit is being funded by an outside funder associated with U.S. asset manager Fortress Investment Group, according to the foundation's website.
This emissions scandal was covered up by Fiat Chrysler for years and affected thousands of investors. It is high time that the automaker was held accountable through this class action lawsuit.
Defended Flip Schreurs, president of the foundation, in the statement.
According to Jan-Willem De Jong, partner at Scott+Scott, the lawsuit was filed on August 28 at the North-Holland District Court in the Netherlands, and Stellantis was notified on August 27. According to Stellantis, the lawsuit is "baseless" and will therefore defend itself vigorously.
Stellantis was formed in 2021 from the merger of Fiat Chrysler Automobiles and Peugeot owner PSA Group. Fiat Chrysler, PSA and Opel have been under investigation in Europe, along with several other carmakers, following Volkswagen's Dieselgate scandal.
Source: pplware.sapo.pt
