A Closer Look at Two Recent Securities Lawsuit Mega Settlements

Over the course of the past few weeks, very substantial settlements were announced in two separate securities class action lawsuits, one involving the giant Internet company Alibaba and one involving the auto manufacturing company Fiat Chrysler. Given the size of these settlements, they are interesting in and of themselves. However, the settlements are interesting, separately and together, for several other reasons, among other things for the fact that both involve companies organized and based outside the U.S. but with securities trading on a U.S. exchange. Each of these settlements is described below, and a discussion of the settlements’ significance follows.   Fiat Chrysler As detailed here, Fiat Chrysler Automobiles N.V. and certain of its directors and officers were sued in September 2015 in a securities class action lawsuit filed in the Southern District of New York. Fiat Chrysler is a Netherlands corporation with its principal executive offices located in…

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