Fiat Chrysler Automobiles NV and its U.S. unit will pay $40 million for misleadi...
) and its U.S. unit will pay $40 million for misleading investors about its monthly sales figures and will resolve a lengthy probe by the U.S. Securities and Exchange Commission .
In July 2016, the company revised more than five years of monthly U.S. vehicle sales figures to reflect a new reporting method, amid an investigation by federal authorities including the U.S. Justice Department. Dealers were paid to report fake sales in a company database using “cooperative marketing funds” to disguise the payments, the SEC said, adding the database “contained false vehicle sales entries, including false customer names and dates of sales.”
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