NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until October 15, 2024 to file lead plaintiff applications in a securities class action lawsuit against Stellantis N.V. (NYSE: STLA), if they purchased the Company’s securities between February 15, 2024 to July 24, 2024, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased securities of Stellantis and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nyse-stla/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by October 15, 2024.
About the Lawsuit
Stellantis and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On July 25, 2024, the Company announced its first half 2024 financial results, disclosing disappointing news, including “[n]et revenues of €85.0 billion, down 14% compared to H1 2023, primarily due to the decline in volume and mix; net profit of €5.6 billion, down 48% compared to H1 2023, primarily due to lower volume and mix, headwinds from foreign exchange and restructuring costs; adjusted operating income of €8.5 billion, down €5.7 billion compared to H1 2023, primarily due to decreases in North America.”
On this news, the price of Stellantis’ shares fell from a closing price of $19.60 per share on July 24, 2024 to $17.66 per share on July 26, 2024.
The case is Long v. Stellantis N.V., et al., No. 24-cv-06196.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
