In the Matter of FCA US LLC and Fiat Chrysler Automobiles N.V., Securities and Exchange Commission Administrative Proceeding File No. 3-19541
WELCOME TO THE FIAT CHRYSLER VEHICLE SALES FAIR FUND WEBSITE
If you invested with FCA US LLC and Fiat Chrysler Automobiles N.V. (collectively, the “Respondents”) between October 13, 2014, through July 26, 2016, and suffered a loss as a result of the conduct described in the SEC Proceeding described below, you may be eligible for a distribution from the Fiat Chrysler Vehicle Sales Fair Fund (the “Fair Fund”).
The information contained on this website is a summary of the information presented in more detail in, among other things, the Cease-And-Desist Order, Plan Notice, and the Plan of Distribution, all of which will be uploaded to this website once final and will be available for your review through the “Important Documents” tab on this website.
You should visit this website often to get the most up-to-date information on the Fair Fund.
The SEC Proceeding
On September 27, 2019, the Commission issued the 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 against the Respondents. In the Order, the Commission found that from at least August 2012 to July 2016, FCA US, fraudulently misled investors about the number of new vehicles that it and its dealers sold each month to customers.
The Commission similarly found that beginning in September 2013, FCA US or its predecessor falsely touted that it continued to increase new vehicle sales every month on a year-over-year basis by reporting what it called a “streak” of uninterrupted sales growth. The Commission further found FCA US inflated monthly vehicle sales to customers by paying dealers to report fake sales and used other measures in order to make vehicles sales appear better than they were.
The Fair Fund and the Fund Administrator
The SEC established a Fair Fund pursuant to Section 308(a) of the Sarbanes-Oxley Act of 2002 to distribute the funds collected to harmed investors. The Fair Fund consists of the $40,000,000 paid by the Respondents and deposited with the United States Department of the Treasury’s Bureau of the Fiscal Services (“BFS”) where the funds are invested in interest-bearing securities. Accrued interest and any additional funds received pursuant to the Order will be added to the Fund.
By Order issued on April 22, 2021, the SEC appointed JND Legal Administration as the Fund Administrator (the “Fund Administrator”) to administer the Fund and implement a Plan of Distribution. You can view and download a copy of this Order through the “Important Documents” tab on this website.
By Order issued on April 15, 2021, the SEC appointed Miller Kaplan Arase LLP (“Miller Kaplan”) as the Tax Administrator (the “Tax Administrator”) to handle the tax obligations of the Fair Fund. You can view and download a copy of this Order through the “Important Documents” tab on this website.
The Distribution Plan
On May 19, 2022, the Commission published a notice of the proposed plan of distribution and opportunity for comment and simultaneously published the proposed Plan of Distribution (“Proposed Plan”). The notice provides the public with 30 days to submit their comments on the Proposed Plan. Once the Proposed Plan is approved, investors who were harmed because of Respondent's violations of the antifraud provisions of the Securities Act as described in the Cease-and-Desist Proceeding, and who suffered losses due to the conduct of the Respondents, and who are not an Excluded Party may be eligible for a distribution.
How do I obtain more information?
Additional information can be found by visiting the “Important Documents” tab or the “Frequently Asked Questions” tab visible at the top of this webpage. You can obtain additional information by contacting the Fund Administrator toll free at 1-833-636-2119; by sending an email to Info@FiatChryslerVehicleSalesFairFund.com or online on the Contact Us page of this website.