Palazzolo, et. al. v. Fiat Chrysler Automobiles N.V., et. al.
Fiat Chrysler Automobiles Securities Litigation Settlement
Case No. 4:16-cv-12803-LVP-SDD (E.D. Mich)

Frequently Asked Questions

 

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  • The Court directed that the Notice be mailed to you because you or someone in your family or an investment account for which you serve as a custodian may have purchased or otherwise acquired Fiat Chrysler Automobiles N.V. common stock on a U.S. Exchange during the Class Period. The Court directed the Notice to you because, as a potential Settlement Class Member, you have a right to know about your options before the Court rules on the proposed Settlement. Additionally, you have the right to understand how this class action lawsuit may generally affect your legal rights. If the Court approves the Settlement and the Plan of Allocation (or some other plan of allocation), the Claims Administrator selected by Lead Plaintiffs and approved by the Court will make payments pursuant to the Settlement after any objections and appeals are resolved.

    The purpose of the Notice is to inform you of the existence of this case, that it is a class action, how you might be affected, and how to exclude yourself from the Settlement Class if you wish to do so. It is also being sent to inform you of the terms of the proposed Settlement, and of a hearing to be held by the Court to consider the fairness, reasonableness, and adequacy of the Settlement, the proposed Plan of Allocation, and Lead Counsel’s application for an award of attorneys’ fees and reimbursement of Litigation Expenses (“Settlement Fairness Hearing”). See ¶54 of the Notice for details about the Settlement Fairness Hearing, including the date and location of the hearing.

    The issuance of the Notice is not an expression of any opinion by the Court concerning the merits of any claim in the Action, and the Court still has to decide whether to approve the Settlement. If the Court approves the Settlement and a plan of allocation, then payments to Authorized Claimants will be made after any appeals are resolved and after the completion of all claims processing. Please be patient, as this process can take some time.

  • This is a securities class action brought against Fiat Chrysler Automobiles N.V. ("FCA" or the "Company"); FCA’s Chief Executive Officer throughout the Class Period, Sergio Marchionne; FCA’s Chief Financial Officer throughout the Class Period, Richard K. Palmer; and FCA’s Head of U.S. Sales throughout the Class Period, Reid Bigland. Lead Plaintiffs allege that, during the Class Period, Defendants made false and misleading statements and failed to disclose material adverse facts about the Company’s business and operations. Specifically, Lead Plaintiffs allege that Defendants fraudulently inflated FCA’s U.S vehicle sales numbers during the Class Period, including misrepresenting the Company’s streak of year-over-year monthly U.S. sales growth. Defendants deny all allegations of wrongdoing or liability whatsoever.

    The Action was commenced on July 29, 2016, with the filing of a putative securities class action complaint in this Court captioned Samaras v. Fiat Chrysler Automobiles N.V., et al., Case No. 4:16-cv-12803-LVP-SDD.  By Order dated January 18, 2017, the Court appointed Carl Palazzolo and Albert Ferrandi as lead plaintiffs and Kessler Topaz Meltzer & Check, LLP and The Miller Law Firm, P.C. as lead counsel.

    On March 17, 2017, Lead Plaintiffs filed the operative complaint in the Action: the Consolidated Class Action Complaint for Violations of the Federal Securities Laws (“Consolidated Complaint”). The Consolidated Complaint asserted claims under §§ 10(b) and 20(a) of the Securities Exchange Act of 1934 (“Exchange Act”), 15 U.S.C. §§ 78j(b) and 78t(a), and Rule 10b-5 promulgated thereunder, against Defendants.

    On May 16, 2017, Defendants moved to dismiss the Consolidated Complaint. By Opinion and Order dated December 14, 2017, the Court denied Defendants’ motion to dismiss the Consolidated Complaint in its entirety.

    Defendants filed their Answer to the Consolidated Complaint on January 30, 2018. (Defendants filed an Amended Answer on April 30, 2018).

    On February 26, 2018, the Parties filed their Joint Discovery Plan with the Court, and discovery commenced.  To date, Lead Plaintiffs have issued numerous document requests and requests for admission to Defendants. In response, Defendants have produced approximately one million pages of documents for Lead Plaintiffs’ review. Defendants also have issued document requests and interrogatories to Lead Plaintiffs and, in response, Lead Plaintiffs have produced approximately one thousand pages of documents.

    While discovery was ongoing, the Parties agreed to discuss a possible resolution of the Action and the Released Claims. To facilitate their negotiations, the Parties engaged in a formal mediation with the Hon. Daniel Weinstein (Ret.) on March 27, 2018. In advance of the mediation, the Parties prepared and exchanged detailed mediation statements. Although the Parties were unable to reach a resolution of the Action at the mediation, they thereafter continued their discussions with the assistance of Judge Weinstein. Following continued discussions, the Parties accepted a mediator’s proposal to settle the Action and the Released Claims for $14.75 million.

    On January 31, 2019, the Parties entered into the Stipulation, which sets forth the final terms and conditions of the Settlement. The Stipulation can be viewed on the "Important Documents" tab of this website.

    On February 20, 2019, the Court preliminarily approved the Settlement, authorized the Notice to be disseminated to potential Settlement Class Members, and scheduled the Settlement Fairness Hearing to consider whether to grant final approval to the Settlement.

  • If you are a member of the Settlement Class, you are subject to the Settlement, unless you timely request to be excluded from the Settlement Class. The Settlement Class provisionally certified by the Court for purposes of effectuating the Settlement consists of:

    All persons and entities who purchased or otherwise acquired the publicly traded common stock of Fiat Chrysler Automobiles N.V. on a U.S. Exchange between November 3, 2014 and July 26, 2016, inclusive, and were damaged thereby.

    Excluded from the Settlement Class are (i) Defendants; (ii) present and former directors or executive officers of the Company; (iii) any of Defendants’ Immediate Family members; (iv) any of the foregoing individuals’ or entities’ legal representatives, heirs, successors, or assigns; and (v) any entity in which any Defendant has a controlling interest, or which is related to or affiliated with any of the Defendants.  Also excluded from the Settlement Class are any persons and entities who or which exclude themselves by submitting a request for exclusion that is accepted by the Court.  See “What If I Do Not Want To Be A Member Of The Settlement Class?  How Do I Exclude Myself,” below.

    PLEASE NOTE:  RECEIPT OF THE NOTICE DOES NOT MEAN THAT YOU ARE A SETTLEMENT CLASS MEMBER OR THAT YOU WILL BE ENTITLED TO RECEIVE PROCEEDS FROM THE SETTLEMENT.

    IF YOU ARE A SETTLEMENT CLASS MEMBER AND YOU WISH TO BE ELIGIBLE TO PARTICIPATE IN THE DISTRIBUTION OF PROCEEDS FROM THE SETTLEMENT, YOU ARE REQUIRED TO SUBMIT THE CLAIM FORM THAT IS BEING DISTRIBUTED WITH THE NOTICE AND THE REQUIRED SUPPORTING DOCUMENTATION AS SET FORTH THEREIN POSTMARKED (IF MAILED), OR ONLINE, NO LATER THAN JULY 10, 2019.

  • Lead Plaintiffs and Lead Counsel believe that the claims asserted against Defendants have merit; however, they also recognize the substantial risks in continuing to litigate the Action. For example, Defendants have raised a number of arguments and defenses, including that Defendants made no misrepresentations, that the alleged misrepresentations were immaterial as a matter of law and that Lead Plaintiffs would not be able to establish that Defendants acted with the requisite intent. Even assuming Lead Plaintiffs could establish Defendants’ liability, the amount of damages that could be attributed to the allegedly false statements would be hotly contested. Additionally, Lead Plaintiffs and Lead Counsel recognize the significant expense and length of continued proceedings necessary to pursue their claims against Defendants through discovery, further motion practice, trial, and appeals. Thus, there were very significant risks attendant to the continued prosecution of the Action.

    In light of these risks, the amount of the Settlement, and the immediacy of recovery to the Settlement Class, Lead Plaintiffs and Lead Counsel believe that the proposed Settlement is fair, reasonable, and adequate, and in the best interests of the Settlement Class. Lead Plaintiffs and Lead Counsel believe that the Settlement provides a favorable result for the Settlement Class, namely $14,750,000 in cash (less the various deductions described in the Notice), as compared to the risk that the claims in the Action would produce a smaller, or no, recovery after discovery, summary judgment, trial, and appeals, possibly years in the future.

    Defendants have denied the claims asserted against them in the Action and deny having engaged in any wrongdoing or violation of law of any kind whatsoever. Defendants have agreed to the Settlement to eliminate the burden and expense of continued litigation, and the Settlement may not be construed as an admission of any wrongdoing by Defendants in this or any other action or proceeding.

  • If there were no Settlement and Lead Plaintiffs failed to establish any essential legal or factual element of their claims against Defendants, neither Lead Plaintiffs nor the other members of the Settlement Class would recover anything from Defendants. Also, if Defendants were successful in proving any of their defenses, either at summary judgment, at trial, or on appeal, the Settlement Class could recover substantially less than the amount provided in the Settlement, or nothing at all.

  • The law firms of Kessler Topaz Meltzer & Check, LLP and The Miller Law Firm, P.C. were appointed to represent all Settlement Class Members.  These lawyers are called Lead Counsel.  You will not be separately charged for the services of these lawyers.  The Court will determine the amount of Lead Counsel’s fees and expenses.  Any fees and expenses awarded by the Court will be paid from the Settlement Fund.  As a Settlement Class Member, you are represented by Lead Counsel.  If you want to be represented by your own lawyer, you may hire one at your own expense.  You are not required to retain your own counsel, but if you choose to do so, such counsel must file a notice of appearance on your behalf. See “When And Where Will The Court Decide Whether To Approve The Settlement?,” below.

    If you are a Settlement Class Member and do not wish to remain a Settlement Class Member, you may exclude yourself from the Settlement Class by following the instructions in the section entitled, “When And Where Will The Court Decide Whether To Approve The Settlement?,” below.

    If you are a Settlement Class Member and you wish to object to the Settlement, the Plan of Allocation, or Lead Counsel’s application for attorneys’ fees and reimbursement of Litigation Expenses, and if you do not exclude yourself from the Settlement Class, you may present your objections by following the instructions in the section entitled, “When And Where Will The Court Decide Whether To Approve The Settlement?,” below.

    If you are a Settlement Class Member and you do not exclude yourself from the Settlement Class, you will be bound by any orders issued by the Court. If the Settlement is approved, the Court will enter a judgment (“Judgment”). The Judgment will dismiss with prejudice the claims against Defendants and will provide that, upon the Effective Date of the Settlement, Lead Plaintiffs and each of the other Settlement Class Members, on behalf of themselves, and their respective heirs, executors, administrators, predecessors, successors, and assigns in their capacities as such, and on behalf of any other person or entity legally entitled to bring Released Plaintiffs’ Claims (as defined in ¶29 of the Notice) on behalf of any Settlement Class Member, shall be deemed to have, and by operation of law and of the Judgment shall have fully, finally, and forever compromised, settled, released, resolved, relinquished, waived, and discharged each and every Released Plaintiffs’ Claim against the Defendants’ Releasees (as defined in ¶30 of the Notice), and shall forever be barred and enjoined from commencing, instituting, maintaining, prosecuting or continuing to prosecute any or all of the Released Plaintiffs’ Claims against any of the Defendants’ Releasees, in this Action or in any other proceeding.  This Release shall not apply to any Excluded Plaintiffs’ Claims (as defined in ¶29 of the Notice).

    “Released Plaintiffs’ Claims” means any and all claims, rights, duties, controversies, obligations, demands, actions, debts, sums of money, suits, contracts, agreements, promises, damages, losses, judgments, liabilities, allegations, arguments, and causes of action of every nature and description, whether known claims or Unknown Claims, whether arising under federal, state, local, common, statutory, administrative, or foreign law, or any other law, rule or regulation, at law or in equity, whether class or individual in nature, whether fixed or contingent, whether accrued or unaccrued, whether liquidated or unliquidated, whether matured or unmatured, that Lead Plaintiffs or any other member of the Settlement Class (i) asserted in the Consolidated Complaint or (ii) could have asserted in any court or forum that arise out of or are based upon the allegations, transactions, facts, matters or occurrences, representations, or omissions set forth in the Consolidated Complaint and that relate to the purchase, acquisition or ownership of shares of FCA common stock on (and for ownership, shares resulting from a purchase or acquisition on) the New York Stock Exchange or any other securities exchange located in the United States (“U.S. Exchange”) during the Class Period.  “Released Plaintiffs’ Claims” do not include (i) any claims relating to the enforcement of the Settlement; (ii) any claims asserted in the actions Napleton’s Arlington Heights Motors, Inc., et al., v. FCA US LLC, No. 1:16-cv-00403-VMK-SMF (N.D. Ill.) and Pirnik v. Fiat Chrysler Automobiles NV et al., No. 1:15-cv-07199 (S.D.N.Y.); or (iii) any claims of any person or entity who or which submits a request for exclusion from the Settlement Class that is accepted by the Court (“Excluded Plaintiffs’ Claims”).

    “Defendants’ Releasees” means Defendants, together with their past, present, or future affiliates, divisions, joint ventures, assigns, assignees, direct or indirect parents or subsidiaries, controlling shareholders, successors, predecessors, and entities in which a Defendant has a controlling interest, and each of their past, present, or future officers, directors, agents, employees, partners, members, attorneys, controlling shareholders, advisors, investment advisors, auditors, accountants, insurers (including reinsurers and co-insurers), and Immediate Family members, and the legal representatives, heirs, trusts, trustees, executors, estates, administrators, beneficiaries, successors in interest, or assigns of any of the foregoing.  For the avoidance of doubt, Defendants’ Releasees expressly includes Roland Iseli and Alessandro Baldi, as Co-Executors of the Estate of Sergio Marchionne.

    “Unknown Claims” means any Released Plaintiffs’ Claims which Lead Plaintiffs or any other Settlement Class Member does not know or suspect to exist in his, her, or its favor at the time of the release of such claims, and any Released Defendants’ Claims which any Signatory Defendant does not know or suspect to exist in his or its favor at the time of the release of such claims. With respect to any and all Released Claims, the Parties stipulate and agree that, upon the Effective Date of the Settlement, Lead Plaintiffs and Signatory Defendants shall expressly waive, and each of the Settlement Class Members shall be deemed to have, and by operation of the Judgment or the Alternative Judgment, if applicable, shall have, expressly waived, the provisions, rights, and benefits conferred by any law of any state or territory of the United States, or principle of common law or foreign law, which is similar, comparable, or equivalent to California Civil Code §1542, which provides:

    A general release does not extend to claims that the creditor or releasing party does not know or suspect to exist in his or her favor at the time of executing the release and that, if known by him or her, would have materially affected his or her settlement with the debtor or released party.

    The Parties acknowledge that they may hereafter discover facts in addition to or different from those which he or it or their counsel now knows or believes to be true with respect to the subject matter of the Released Claims, but, upon the Effective Date, Lead Plaintiffs and Signatory Defendants shall expressly settle and release, and each of the other Settlement Class Members shall be deemed to have, and by operation of the Judgment or the Alternative Judgment, if applicable, shall have, settled and released, any and all Released Claims without regard to the subsequent discovery or existence of such different or additional facts. Lead Plaintiffs and signatory Defendants acknowledge, and each of the other Settlement Class Members shall be deemed by operation of the Judgment or the Alternative Judgment, if applicable, to have acknowledged, that the foregoing waiver was seperately bargained for and is a key element of the Settlement of which this release is a part.

    The Judgment will also provide that, upon the Effective Date of the Settlement, Signatory Defendants, on behalf of themselves, and their respective heirs, executors, administrators, predecessors, successors, and assigns in their capacities as such, and on behalf of any other person or entity legally entitled to bring Released Defendants’ Claims on behalf of the Defendants, shall be deemed to have, and by operation of law and of the Judgment shall have, fully, finally, and forever compromised, settled, released, resolved, relinquished, waived, and discharged each and every Released Defendants’ Claim (as defined in ¶33 of the Notice) against the Plaintiffs’ Releasees (as defined in ¶34 of the Notice), and shall forever be barred and enjoined from commencing, instituting, maintaining, prosecuting or continuing to prosecute any or all of the Released Defendants’ Claims against any of the Plaintiffs’ Releasees, in this Action or in any other proceeding.  This Release shall not apply to any Excluded Defendants’ Claims (as defined in ¶33 of the Notice).

    “Released Defendants’ Claims” means any and all claims, rights, duties, controversies, obligations, demands, actions, debts, sums of money, suits, contracts, agreements, promises, damages, losses, judgments, liabilities, allegations, arguments, and causes of action of every nature and description, whether known claims or Unknown Claims, whether arising under federal, state, local, common, statutory, administrative, or foreign law, or any other law, rule or regulation, at law or in equity, whether class or individual in nature, whether fixed or contingent, whether accrued or unaccrued, whether liquidated or unliquidated, whether matured or unmatured, that arise out of or relate in any way to the institution, prosecution, or settlement of the claims asserted in the Action.  “Released Defendants’ Claims” does not include (i) any claims relating to the enforcement of the Settlement; or (ii) any claims against any person or entity who submits a request for exclusion from the Settlement Class that is accepted by the Court (“Excluded Defendants’ Claims”).

    “Plaintiffs’ Releasees” means (i) Lead Plaintiffs, their attorneys and all other Settlement Class Members; (ii) the current and former parents, affiliates, subsidiaries, successors, predecessors, assigns, and assignees of each of the foregoing in (i); and (iii) the current and former officers, directors, Immediate Family members, heirs, trusts, trustees, executors, estates, administrators, beneficiaries, agents, affiliates, insurers, reinsurers, predecessors, successors, assigns, and advisors of each of the persons or entities listed in (i) and (ii), in their capacities as such.

  • To be eligible for a payment from the proceeds of the Settlement, you must be a member of the Settlement Class and you must timely complete and return the Claim Form with adequate supporting documentation postmarked (if mailed), or submitted online no later than July 10, 2019. A Claim Form was included with the mailed Notice, or you may obtain one from this website or you may request that a Claim Form be mailed to you by calling the Claims Administrator toll free at 1-833-291-1644, or by emailing the Claims Administrator at info@FiatSecuritiesLitigationSettlement.com. You may also submit your Claim online.  Please retain all records of your ownership of and transactions in Fiat Chrysler Automobiles N.V. common stock, as they may be needed to document your Claim. If you request exclusion from the Settlement Class or do not submit a timely and valid Claim Form, you will not be eligible to share in the Net Settlement Fund.

  • At this time, it is not possible to make any determination as to how much any individual Settlement Class Member may receive from the Settlement.

    Pursuant to the Settlement, Defendants shall pay or cause to be paid $14,750,000 in cash. The Settlement Amount will be deposited into an escrow account.  The Settlement Amount plus any interest earned thereon is referred to as the “Settlement Fund.” If the Settlement is approved by the Court and the Effective Date occurs, the “Net Settlement Fund” (as defined in ¶2 of the Notice) will be distributed to Settlement Class Members who submit valid Claim Forms, in accordance with the proposed Plan of Allocation or such other plan of allocation as the Court may approve. 

    The Net Settlement Fund will not be distributed unless and until the Court has approved the Settlement and a plan of allocation and that decision is affirmed on appeal (if any) and/or the time for any petition for rehearing, appeal, or review, whether by certiorari or otherwise, has expired.

    Neither Defendants nor any other person or entity that paid any portion of the Settlement Amount on their behalf are entitled to get back any portion of the Settlement Fund once the Court’s order or judgment approving the Settlement becomes Final, including following any appeals. Defendants shall not have any liability, obligation, or responsibility for the administration of the Settlement, the disbursement of the Net Settlement Fund, or the plan of allocation.

    Approval of the Settlement is independent from approval of a plan of allocation.  Any determination with respect to a plan of allocation will not affect the Settlement, if approved.

    Unless the Court otherwise orders, any Settlement Class Member who fails to submit a Claim Form postmarked (if mailed), or online, on or before July 10, 2019 shall be fully and forever barred from receiving payments pursuant to the Settlement but will in all other respects remain a Settlement Class Member and be subject to the provisions of the Stipulation, including the terms of any Judgment entered and the Releases given. This means that each Settlement Class Member releases the Released Plaintiffs’ Claims (as defined in ¶29 of the Notice) against the Defendants’ Releasees (as defined in ¶30 of the Notice) and will be enjoined and prohibited from filing, prosecuting, or pursuing any of the Released Plaintiffs’ Claims against any of the Defendants’ Releasees whether or not such Settlement Class Member submits a Claim Form.

    Participants in and beneficiaries of any employee retirement and/or benefit plan (“Employee Plan”) should NOT include any information relating to shares of Fiat Chrysler Automobiles N.V. ("FCA") common stock purchased/acquired through an Employee Plan in any Claim Form they submit in this Action. They should include ONLY those eligible shares of FCA common stock purchased/acquired during the Class Period outside of an Employee Plan. Claims based on any Employee Plan(s)’ purchases/acquisitions of eligible FCA common stock during the Class Period may be made by the Employee Plan(s)’ trustees. To the extent any of the Defendants or any of the other persons or entities excluded from the Settlement Class are participants in an Employee Plan(s), such persons or entities shall not receive, either directly or indirectly, any portion of the recovery that may be obtained from the Settlement by such Employee Plan(s).

    The Court has reserved jurisdiction to allow, disallow, or adjust on equitable grounds the Claim of any Settlement Class Member.  

    Each Claimant shall be deemed to have submitted to the jurisdiction of the Court with respect to his, her, or its Claim Form.

    Only Settlement Class Members, i.e., persons and entities who purchased or otherwise acquired FCA common stock on a U.S. Exchange during the Class Period and were damaged thereby, will be eligible to share in the distribution of the Net Settlement Fund. Persons and entities who are excluded from the Settlement Class by definition or who exclude themselves from the Settlement Class pursuant to an exclusion request will not be eligible to receive a distribution from the Net Settlement Fund and should not submit Claim Forms.

    Appendix A to the Notice sets forth the Plan of Allocation for allocating the Net Settlement Fund among Authorized Claimants, as proposed by Lead Plaintiffs and Lead Counsel. At the Settlement Fairness Hearing, Lead Counsel will request the Court approve the Plan of Allocation. The Court may modify the Plan of Allocation, or approve a different plan of allocation, without further notice to the Settlement Class.

  • Lead Counsel have not received any payment for their services in pursuing claims against the Defendants on behalf of the Settlement Class, nor have Lead Counsel been reimbursed for their out-of-pocket expenses. Before final approval of the Settlement, Lead Counsel will apply to the Court for an award of attorneys’ fees in an amount not to exceed 30% of the Settlement Fund. At the same time, Lead Counsel also intend to apply for reimbursement of Litigation Expenses in an amount not to exceed $400,000, which amount may include an application for reimbursement of the reasonable costs and expenses incurred by Lead Plaintiffs directly related to their representation of the Settlement Class in accordance with 15 U.S.C. §78u-4(a)(4), in an aggregate amount not to exceed $10,000. The Court will determine the amount of any award of attorneys’ fees or reimbursement of Litigation Expenses. Such sums as may be approved by the Court will be paid from the Settlement Fund. Settlement Class Members are not personally liable for any such fees or expenses.

  • Each Settlement Class Member will be bound by all determinations and judgments in this lawsuit, whether favorable or unfavorable, unless such person or entity mails or delivers a written request for exclusion addressed to:  Fiat Chrysler Automobile Securities Litigation Settlement, EXCLUSIONS, c/o JND Legal Administration, P.O. Box 91245, Seattle, WA 9811-9345.  The request for exclusion must be received no later than May 15, 2019. You will not be able to exclude yourself from the Settlement Class after that date.

    Each request for exclusion must: (i) state the name, address, and telephone number of the person or entity requesting exclusion, and in the case of entities, the name and telephone number of the appropriate contact person; (ii) state that such person or entity “requests exclusion from the Settlement Class in Palazzolo, et al. v. Fiat Chrysler Automobiles N.V., et al., Case No. 4:16-cv-12803-LVP-SDD”; (iii) state the number of shares of Fiat Chrysler Automobiles N.V. common stock that the person or entity requesting exclusion purchased/acquired and/or sold on a U.S. Exchange during the Class Period (i.e., between November 3, 2014 and July 26, 2016, inclusive), as well as the dates, number of shares, and prices of each such purchase/acquisition and/or sale; and (iv) be signed by the person or entity requesting exclusion or an authorized representative.

    A request for exclusion shall not be valid and effective unless it provides all the information called for in ¶49 of the Notice and is received within the time stated above, or is otherwise accepted by the Court.

    If you do not want to be part of the Settlement Class, you must follow these instructions for exclusion even if you have pending, or later file, another lawsuit, arbitration, or other proceeding relating to any Released Plaintiffs’ Claim against any of the Defendants’ Releasees. Excluding yourself from the Settlement Class is the only option that allows you to be part of any other current or future lawsuit against Defendants or any of the other Defendants’ Releasees concerning the Released Plaintiffs’ Claims. Please note, however, if you decide to exclude yourself from the Settlement Class, you may be time-barred from asserting the claims covered by the Action by a statute of repose. In addition, Defendants and the other Defendants’ Releasees will have the right to assert any and all defenses they may have to any claims that you may seek to assert.

    If you ask to be excluded from the Settlement Class, you will not be eligible to receive any payment out of the Net Settlement Fund.

  • Settlement Class Members do not need to attend the Settlement Fairness Hearing. The Court will consider any submission made in accordance with the provisions below even if a Settlement Class Member does not attend the hearing. Please Note: The date and time of the Settlement Fairness Hearing may change without further written notice to the Settlement Class. If you plan on attending the hearing, please check this website or contact Lead Counsel to confirm that the date and/or time of the hearing has not changed.

    The Settlement Fairness Hearing will be held on June 5, 2019 at 1:00 p.m., before the Honorable Linda V. Parker at the Theodore Levin Courthouse, 231 W. Lafayette Blvd., Detroit, MI 48226, Courtroom 206. The Court reserves the right to approve the Settlement, the Plan of Allocation, Lead Counsel’s motion for an award of attorneys’ fees and reimbursement of Litigation Expenses, and/or any other matter related to the Settlement at or after the Settlement Fairness Hearing without further notice to the members of the Settlement Class.

    Any Settlement Class Member who or which does not request exclusion may object to the Settlement, the Plan of Allocation, or Lead Counsel’s motion for an award of attorneys’ fees and reimbursement of Litigation Expenses. Objections must be in writing. You must file any written objection, together with copies of all other papers and briefs supporting the objection, with the Clerk’s Office at the United States District Court for the Eastern District of Michigan at the address set forth below as well as serve copies on Lead Counsel and on Defendants’ Counsel at the addresses set forth below on or before May 15, 2019.

    Clerk’s Office
    United States District Court
    Eastern District of Michigan
    Theodore Levin Courthouse
    231 W. Lafayette Blvd. Room 599
    Detroit, MI 48226

    Lead Counsel
    Gregory M. Castaldo
    Kessler Topaz Meltzer & Check, LLP
    280 King of Prussia Road
    Radnor, PA 19087

    E. Powell Miller
    The Miller Law Firm, P.C.
    950 West University Drive, Suite 300
    Rochester, MI 48307

    Defendants’ Counsel
    Counsel for Fiat Chrysler Automobiles N.V. and Richard K. Palmer
    Robert J. Giuffra, Jr.
    William B. Monahan
    Sullivan & Cromwell LLP
    125 Broad Street
    New York, NY 10004-2498

    Counsel for Reid Bigland
    Rachel B. Goldman
    Bracewell LLP
    1251 Avenue of the Americas, 49th Floor
    New York, NY 10020-1100

    To object, you must send a letter to the Court saying that you object to the Settlement in Palazzolo, et al. v. Fiat Chrysler Automobiles N.V., et al., Case No. 4:16-cv-12803-LVP-SDD, and stating the reasons that you object to the Settlement, or any part thereof.

    Any objection must: (i) state the name, address, and telephone number of the person or entity objecting and be signed by the objector; (ii) state whether the objector is represented by counsel and, if so, the name, address, and telephone number of the objector’s counsel; (iii) indicate whether the objection applies only to the objector, to a specific subset of the Settlement Class, or to the entire Settlement Class; (iv) state with specificity the grounds for the Settlement Class Member’s objection or objections, and the specific reasons for each objection, including any legal and evidentiary support the Settlement Class Member wishes to bring to the Court’s attention; and (v) include documents sufficient to prove membership in the Settlement Class, consisting of documents showing the number of shares of Fiat Chrysler Automobiles N.V. common stock that the objector purchased/acquired and/or sold on a U.S. Exchange during the Class Period (i.e., between November 3, 2014 and July 26, 2016, inclusive), as well as the dates, number of shares, and prices of each such purchase/acquisition and/or sale.

    You may not object to the Settlement, Plan of Allocation, or Lead Counsel’s motion for attorneys’ fees and Litigation Expenses if you exclude yourself from the Settlement Class or if you are not a member of the Settlement Class.

    You may submit an objection without having to appear at the Settlement Fairness Hearing. You may not, however, appear at the Settlement Fairness Hearing to present your objection unless (1) you first submit a written objection in accordance with the procedures described above, (2) you first submit your notice of appearance in accordance with the procedures described below, or (3) the Court orders otherwise.

    If you wish to be heard orally at the hearing in opposition to the approval of the Settlement, the Plan of Allocation, or Lead Counsel’s motion for an award of attorneys’ fees and Litigation Expenses, and if you timely submit a written objection as described above, you must also file a notice of appearance with the Clerk’s Office and serve it on Lead Counsel and Defendants’ Counsel at the addresses set forth in ¶55 of the Notice so that it is received on or before May 15, 2019. Persons who intend to object and desire to present evidence at the Settlement Fairness Hearing must include in their written objection or notice of appearance the identity of any witnesses they may call to testify and exhibits they intend to introduce into evidence at the hearing. Such persons may be heard orally at the discretion of the Court.

    You are not required to hire an attorney to represent you in making written objections or in appearing at the Settlement Fairness Hearing. However, if you decide to hire an attorney, it will be at your own expense, and that attorney must file a notice of appearance with the Court and serve it on Lead Counsel and Defendants’ Counsel at the addresses set forth in ¶55 of the Notice so that the notice is received on or before May 15, 2019.

    Unless the Court orders otherwise, any Settlement Class Member who does not object in the manner described above will be deemed to have waived any objection and shall be forever foreclosed from making any objection to the proposed Settlement, the proposed Plan of Allocation, or Lead Counsel’s motion for an award of attorneys’ fees and reimbursement of Litigation Expenses. Settlement Class Members do not need to appear at the Settlement Fairness Hearing or take any other action to indicate their approval.

  • If you purchased or otherwise acquired Fiat Chrysler Automobiles N.V. common stock on a U.S. Exchange between November 3, 2014 and July 26, 2016, inclusive, for the beneficial interest of persons or organizations other than yourself, you must either (i) within seven (7) calendar days of receipt of the Notice, request from the Claims Administrator sufficient copies of the Notice and Claim Form (the “Notice Packet”) to forward to all such beneficial owners and within seven (7) calendar days of receipt of those Notice Packets forward them to all such beneficial owners; or (ii) within seven (7) calendar days of receipt of the Notice, provide a list of the names and addresses (and e-mail addresses, if available) of all such beneficial owners to Fiat Chrysler Automobiles Securities Litigation Settlement, c/o JND Legal Administration, P.O. Box 91245, Seattle, WA 98111-9345.  If you choose the second option, the Claims Administrator will send a copy of the Notice Packet to the beneficial owners. Upon full compliance with these directions, such nominees may seek reimbursement of their reasonable expenses actually incurred, by providing the Claims Administrator with proper documentation supporting the expenses for which reimbursement is sought.  Copies of the Notice and the Claim Form may also be obtained from this website, by calling the Claims Administrator toll-free at 1-833-291-1644, or by emailing the Claims Administrator at info@FiatSecuritiesLitigationSettlement.com.

  • The Notice contains only a summary of the terms of the Settlement. For the terms and conditions of the Settlement, please see the Stipulation available on the "Important Documents" tab of this website.  More detailed information about the matters involved in this Action can be obtained by accessing the Court docket in this case, for a fee, through the Court’s Public Access to Court Electronic Records (PACER) system at https://www.mied.uscourts.gov, or by visiting, during regular office hours, the Office of the Clerk, United States District Court for the Eastern District of Michigan, Theodore Levin Courthouse, 231 W. Lafayette Blvd., Room 599, Detroit, MI 48226. Additionally, copies of any related orders entered by the Court will be posted on this website.

    All inquiries concerning the Notice and the Claim Form should be directed to:

    Fiat Chrysler Automobiles Securities Litigation Settlement
    c/o JND Legal Administration
    P.O. Box 91245
    Seattle, WA  98111-9345
    1-833-291-1644 
    info@FiatSecuritiesLitigationSettlement.com 
     

    and/or

    Gregory M. Castaldo
    Kessler Topaz Meltzer & Check, LLP
    280 King of Prussia Road
    Radnor, PA 19087

    E. Powell Miller
    The Miller Law Firm, P.C.
    950 West University Drive, Suite 300
    Rochester, MI 48307


    PLEASE DO NOT CALL OR WRITE THE COURT, THE OFFICE OF THE CLERK OF THE COURT, DEFENDANTS OR THEIR COUNSEL REGARDING THE NOTICE.

For More Information

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Mail

Fiat Chrysler Automobiles Securities Litigation Settlement
c/o JND Legal Administration
P.O. Box 91245
Seattle, WA 98111-9345