Fiat Chrysler Automobiles has agreed to pay $40 million to settle charges by the U.S. Securities and Exchange Commission that it misled "investors about the number of new vehicles sold each month to customers in the United States" for several years ending in 2016.
The company "issued monthly press releases falsely reporting new vehicle sales and falsely touting a 'streak' of uninterrupted monthly year-over-year sales growth, when in fact, the growth streak had been broken in September 2013," the SEC said, noting that the news releases were included in the company's SEC filings.
The company, actually FCA US and its parent FCA, agreed to pay the $40 million civil penalty but did not admit or deny the SEC's findings...
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