Fiat Chrysler to pay $40 million fine for inflating sales numbers

Filed under: Earnings/Financials,Chrysler,Fiat

Fiat Chrysler is paying $40 million to settle with U.S. securities regulators who say the automaker misled investors by overstating its monthly sales numbers over a five-year period. Fiat Chrysler agreed to pay the civil penalty and to stop violating anti-fraud, reporting and internal accounting control regulations, the SEC said Friday in a statement. "This case underscores the need for companies to truthfully disclose their key performance indicators," Antonia Chion, associate director in the

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