Investors Urged to Act Ahead of Stellantis Class Action Deadlines

Author: Lucas Young Updated: 09-17-2024 10:27 PM

Class Action Lawsuit Against Stellantis N.V. Warns Investors

In recent announcements, Kahn Swick & Foti, LLC has drawn attention to an important legal matter regarding Stellantis N.V. This situation involves a securities class action lawsuit that has significant implications for investors who may have suffered losses. If you purchased shares of Stellantis (NYSE: STLA) between specific periods, you may have legal avenues available to seek recovery.

Your Rights as an Investor

Investors are encouraged to act promptly to protect their rights. According to the firm, individuals who bought stocks of Stellantis during the designated class period—from February 15, 2024, to July 24, 2024—should consider submitting applications to be appointed as lead plaintiffs. These applications must be filed by a set deadline, which is crucial for those aiming to recover investment losses.

Deadline for Lead Plaintiff Applications

The lead plaintiff application deadline is approaching, and it's an essential step for any investor looking to join the class action against Stellantis. The specific date to remember is October 15, 2024. This date marks the last opportunity for affected investors to establish their claims in this legal proceeding. Failure to act by this date may result in the loss of one's rights to participate in the lawsuit.

Background on the Lawsuit

The class action lawsuit stems from allegations against Stellantis and select executives for not disclosing vital information that may have affected the company’s stock performance during the class period. Such nondisclosure is seen as a breach of federal securities laws, which exist to ensure transparency and fairness in the financial markets.

Impact of Recent Financial Results

Stellantis's recent announcement regarding its financial results has particularly drawn attention. The company reported net revenues of €85.0 billion, marking a 14% decline compared to the previous year. Alongside, a significant drop in net profit by 48% to €5.6 billion raised further concerns among investors about the company's performance. Such news can dramatically affect share values, and this is a pivotal aspect in the ongoing lawsuit.

The Plunge in Share Prices

In response to the unfavorable financial results disclosed on July 25, 2024, Stellantis shares experienced a notable decline. The stock plummeted from $19.60 on July 24 to $17.66 by July 26. This sharp drop left many investors questioning the reliability of the information provided by the company leading up to this announcement, fueling the basis for the class action.

About Kahn Swick & Foti, LLC

Kahn Swick & Foti, LLC is recognized as a leading firm in securities litigation. With a strong background represented by its partner Charles C. Foti, Jr., the firm advocates for various clients facing challenges due to corporate malfeasance. Their expertise includes working on behalf of public investors, hedge funds, and other entities to recover financial losses resulting from deceptive practices.

Your Next Steps

If you are an investor impacted by the situation, it is highly recommended to reach out for guidance. Legal representatives from KSF are ready to discuss your potential claims and how the ongoing lawsuit may affect you. You can do this without any financial obligation, ensuring that you're informed about your options.

Frequently Asked Questions

What is the class action lawsuit against Stellantis about?

The lawsuit claims Stellantis and its executives failed to disclose important information affecting the company's stock price, violating securities laws.

Who can join the class action against Stellantis?

Investors who purchased shares of Stellantis during the period from February 15, 2024, to July 24, 2024, are eligible to apply to join the class action.

What is the deadline to file a lead plaintiff application?

The deadline to file an application to be a lead plaintiff is October 15, 2024.

What financial issues did Stellantis report?

Stellantis reported a decline in net revenues by 14% and a 48% drop in net profit compared to the same half-year period in the previous year.

How can investors learn more about their legal rights?

Investors can contact Kahn Swick & Foti LLC to discuss their legal rights and options regarding the class action lawsuit against Stellantis.

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