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STLA.US
id: 1316
Stellantis (STLA) Disappointing Financial Results Case
S.D. New York
Court1:24-cv-06196
Case number15 Feb 2024
Class period Start24 Jul 2024
Class period End15 Oct 2024
Lead Plaintiff motion deadline- $STLA stockholders filed a claim against Stellantis for misleading them about its 2024 financial outlook, despite providing positive updates on inventory and pricing.
- After the financial results on July 25, 2024, $STLA dropped by over 9%.
- Stellantis investors can join this case to be notified about potential recovery.
Case Details:
On July 25, 2024, Stellantis announced its first-half 2024 results, reporting earnings below forecasts due to weak margins and high U.S. inventory.
Stellantis CEO Carlos Tavares hinted at plans to sell underperforming brands, while CFO Natalie Knight emphasized the need to address operational challenges in North America by reducing production and lowering vehicle prices.
On this news, $STLA fell by 9% on July 26, 2024.
Based on these events, $STLA investors filed a claim against Stellantis, accusing the company of the following:
- The company misled investors about its 2024 outlook, even after sharing positive updates on inventory, pricing, and products.
Considering all the representations, investors suspect Stellantis misled them about its 2024 financial outlook, despite giving positive updates on inventory and pricing.
Case Status
Lead Plaintiff Submission
Alleged Offence
Mismanagement,
Misleading Statements,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
25 July 2024
Filing date
15 August 2024
Lead Plaintiff Deadline
15 October 2024
Judge
Hon. Jennifer H. Rearden