FCA, Investors Propose $5 Million Deal to End Bribe Scheme Suit

Investors in Fiat Chrysler Automobiles NV—which in January became Stellantis NV after a merger—asked for initial approval of a $5 million deal to resolve a would-be class suit over a bribery scheme in federal court in New York.

The proposed settlement is “an excellent result in light of the significant risks of continued litigation,” investors said in a memo filed in the U.S. District Court for the Eastern District of New York in support of their motion for preliminary approval. The deal “represents approximately 6.84% of the $73 million in maximum estimated damages.”

Investors accused FCA of misleading them ...