Stellantis NV misled the public about the growth potential of battery-powered electric vehicles before it announced a costly retrenchment that shaved its stock price by nearly a quarter, an investor says in a suit filed Tuesday.
The selloff was the steepest since the company’s current ticker appeared on the New York Stock Exchange in 2014, according to data compiled by Bloomberg.
The automaker and its top executives concealed “that it was not truly equipped or positioned to grow its adjusted operating income” as claimed, Christopher Harman says in the proposed class action filed in the US District Court for the ...
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