LOS ANGELES, Sept. 30, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Stellantis N.V. ("Stellantis " or the "Company") (NYSE: STLA) investors of a class action representing investors that bought securities between February 15, 2024 and July 24, 2024, inclusive (the "Class Period"). Stellantis investors have until October 15, 2024 to file a lead plaintiff motion.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
On July 25, 2024, Stellantis released its financial report for the first half of 2024. The report showed that the company did not meet analysts' expectations and was predicting a disappointing outlook in the near future.
Following this announcement, Stellantis' stock price dropped by $1.94, or 9.9%, over two days, ending at $17.66 per share on July 26, 2024. This decline negatively impacted investors.
The class action complaint claims that during the Class Period, the defendants made false or misleading statements and failed to reveal important negative information about the company’s financial health, operations, and future prospects. Specifically, the defendants did not disclose: (1) the company’s financial and operational issues, lower-than-expected revenue, and unsuccessful business expansions; and (2) that their positive statements about the company's business and future prospects were misleading or lacked a solid basis at all relevant times.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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