Stellantis NV failed to disclose problems with inventory, pricing, market share, and expansion when projecting 2024 revenue, an investor says in a proposed class action.
Disappointing financials released July 25 caused the carmaker’s stock to tumble, according to the suit, filed Thursday in the US District Court for the Southern District of New York.
The stock price dropped 7.7% the day of the report, closing at $18.09 per share, and 2.4% July 26, when the shares closed at $17.66.
The company said Aug. 12 that it would cut up to 2,450 jobs in Detroit, Bloomberg News reported.
Stellantis and its ...
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