Defendant Name: FCA US LLC

Defendant Type: Subsidiary of Public Company
Public Company Parent: Fiat Chrysler Automobiles N.V.
SIC Code: 3711
CUSIP: N3173810

Initial Case Details

Legal Case Name In the Matter of FCA US LLC and FIAT Chrysler Automobiles N.V.
First Document Date 27-Sep-2019
Initial Filing Format Administrative Action
File Number 3-19541
Allegation Type Issuer Reporting and Disclosure
AAER 4095

Violations Alleged

Exchange Act
• Sec 10(b) + Rule 10b-5
• Rule 12b-20
• Sec 13(b)(2)(A)
• Sec 13(b)(2)(B)
• Sec 15(d)
Securities Act
• Sec 17(a) (Not specified)
Other
• Rule 15d-11 Exchange Act

Resolutions

First Resolution Date 27-Sep-2019
Headline Total Penalty and Disgorgement $40,000,000

Related Documents:

33-10706 27-Sep-2019 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933 and Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
On September 27, 2019, the SEC instituted settled cease and desist proceedings against FCA US LLC and Fiat Chrysler Automobiles N.V. ("FCA US" and "FCA N.V.", respectively). The SEC stated: "From at least August 2012 to July 2016, FCA US, an automotive company, fraudulently misled investors about the number of new vehicles that it and its dealers sold each month to customers."
2019-196 27-Sep-2019 Press Release--Administrative Proceeding
Automaker to Pay $40 Million for Misleading Investors
The SEC stated that: "[It] charged Michigan-based automaker FCA US LLC, and its parent company, Fiat Chrysler Automobiles N.V., for misleading investors about the number of new vehicles sold each month to customers in the United States. FCA US and Fiat Chrysler Automobiles have agreed to pay $40 million to settle the charges."
34-87851 23-Dec-2019 Administrative Proceeding
Extension Order
The SEC stated: "[F]or good cause shown, IT IS HEREBY ORDERED that the Division's request for an extension of time until June 30, 2020 to submit a Proposed Plan of Distribution is granted."
34-91642 22-Apr-2021 Administrative Proceeding
Order Appointing Fund Administrator and Setting Bond Amount
The SEC stated: "IT IS HEREBY ORDERED that JND is appointed as the fund administrator, pursuant to Rule 1105(a) of the Commission's Rules of Fair Fund and Disgorgement Plans ("Commission's Rules"), and shall obtain a bond in accordance with Rule 1105(c) of the Commission's Rules3 in the amount of $40,000,000.00."
34-91997 25-May-2021 Administrative Proceeding
Order Appointing Tax Administrator
The Commission stated: "IT IS ORDERED that Miller Kaplan . . . is appointed the Tax Administrator for the QSF in the above-referenced proceeding."
34-94948 19-May-2022 Administrative Proceeding
Notice of Proposed Plan of Distribution and Opportunity for Comment
The Commission stated: "Notice is hereby given . . . that the Division of Enforcement has submitted to the Commission a proposed plan of distribution (the “Proposed Plan”) for the distribution of monies paid in the above-captioned matter."
34-94948-pdp 19-May-2022 Administrative Proceeding
Proposed Plan of Distribution
The Commission stated: "The Division of Enforcement submits this Proposed Plan of Distribution (the "Plan") to the United States Securities and Exchange Commission (the "Commission") . . . . This Plan provides for the distribution of a Fair Fund (the "Fair Fund"), comprised of civil money penalties paid by Michigan-based automaker FCA US LLC ("FCA US"), and its parent company, Fiat Chrysler Automobiles N.V. ("FCA N.V.") (collectively, the "Respondents") in the above-captioned matter."
34-95261 12-Jul-2022 Administrative Proceeding
Order Approving Plan of Distribution
The Commission ordered that: "the Proposed Plan is approved, and the approved Plan of Distribution shall be posted simultaneously with this order on the Commission’s website at www.sec.gov."
34-95261-dp 12-Jul-2022 Administrative Proceeding
Plan of Distribution
The Commission stated: "The Division of Enforcement has prepared this Plan of Distribution (the “Plan”) to the United States Securities and Exchange Commission (the “Commission”) . . . . This Plan provides for the distribution of a Fair Fund (the “Fair Fund”), comprised of civil money penalties paid by Michigan-based automaker FCA US LLC (“FCA US”), and its parent company, Fiat Chrysler Automobiles N.V. (“FCA N.V.”) (collectively, the “Respondents”) in the above-captioned matter."
34-98425 18-Sep-2023 Administrative Proceeding
Order Directing Disbursement of Fair Fund
The SEC ordered that: "Commission staff shall transfer $39,552,652.62 from the Fair Fund to the Fair Fund’s escrow account at The Huntington National Bank, N.A., and the Fund Administrator shall distribute such monies to the eligible claimant in accordance with the Plan."
34-99967 16-Apr-2024 Administrative Proceeding
Order Approving Application of Fund Administrator for Payment of Fees and Expenses and Authorizing Approval and Payment of Fees and Expenses of Administration
The Commission stated: "[F]rom at least August 2012 to July 2016, FCA US, an automotive company, fraudulently misled investors about the number of new vehicles that it and its dealers sold . . . by paying dealers to report fake sales and used other measures in order to make vehicles sales appear better than they were."

Other Defendants in Action:

Fiat Chrysler Automobiles N.V.