Stellantis Stock – Stellantis Sued for Securities Fraud: Major Class Action Filed Following Earnings Miss

Stellantis Stock – NEW YORK–(BUSINESS WIRE)–Attorney Advertising– Bronstein, Gewirtz & Grossman, LLC, a leading national law firm with extensive experience in securities litigation, has announced the initiation of a class action lawsuit against Stellantis N.V. (“Stellantis” or “the Company”) (NYSE: STLA) and several of its high-ranking officers. This lawsuit addressesCrm Stock- Salesforce Sees Stock Surge as Earnings, Revenue, and Operating Margins Exceed Forecasts allegations of significant breaches of federal securities laws affecting investors.

Overview of the Class Action Lawsuit

The class action seeks to recover damages for alleged violations of federal securities laws on behalf of all individuals and entities who purchased or otherwise acquired Stellantis securities between February 15, 2024, and July 24, 2024 (the “Class Period”). Investors who believe they may be affected by these allegations are encouraged to get involved in the lawsuit. Interested parties can find more information and register their involvement by visiting the firm’s dedicated site: bgandg.com/STLA.

Detailed Allegations Against Stellantis

According to the Complaint, Stellantis issued a press release on July 25, 2024, outlining its financial results for the first half of 2024. The announcement revealed a steep decline in earnings that significantly missed analyst forecasts. The drop in earnings was attributed to weak profit margins and high inventory levels in the Company’s U.S. operations.

The Complaint further alleges that Stellantis CEO Carlos Tavares disclosed plans to divest underperforming brands from the Company’s portfolio. Additionally, CFO Natalie Knight highlighted the necessity for “decisive actions to address operational challenges” in North America. These actions were said to include reductions in both production and vehicle prices. The release of this information led to a substantial decline in Stellantis’s stock price, which fell by over 7% on the same day.

Steps for Affected Investors

The class action lawsuit has been formally filed, and affected investors are encouraged to review the details of the Complaint. To access a copy of the Complaint or to get more information about participating in the lawsuit, investors should visit bgandg.com/STLA or contact Peretz Bronstein, Esq., or Client Relations Manager Nathan Miller at Bronstein, Gewirtz & Grossman, LLC at 332-239-2660. Investors have until October 15, 2024, to request that the Court appoint them as lead plaintiff. It’s important to note that involvement in the lawsuit and potential recovery does not require serving as the lead plaintiff.

No Financial Risk to Investors

Bronstein, Gewirtz & Grossman, LLC represents investors on a contingency fee basis in class action lawsuits. This means that the firm will seek reimbursement for out-of-pocket expenses and attorney fees, typically a percentage of the total recovery, only if the case is successful. This approach ensures that investors are not financially burdened by the cost of legal representation unless the case results in a favorable outcome.

Why Choose Bronstein, Gewirtz & Grossman, LLC?

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized law firm with a strong reputation for handling securities fraud class actions and shareholder derivative suits. The firm has successfully recovered hundreds of millions of dollars for investors nationwide. With its extensive experience and track record of success, the firm is well-equipped to handle complex securities litigation and advocate effectively on behalf of investors.

FAQ: Stellantis Class Action Lawsuit