On September 28, 2020, the Commission instituted and simultaneously settled cease-and-desist proceedings (the “Order”) against Fiat Chrysler Automobiles N.V. (the “Respondent”) for disclosure violations by the Respondent concerning its public descriptions in early 2016 of an internal inquiry of the emissions control systems of certain of its light-duty diesel vehicles in the wake of the Volkswagen AG “Dieselgate” scandal. The Order required the Respondent to pay a $9.5 million civil money penalty to the Commission. The Commission also created a Fair Fund, pursuant to Section 308(a) of the Sarbanes-Oxley Act of 2002, so the civil money penalty can be distributed to harmed investors. See the Commission’s Order: Release No. 34-90031.

The Respondent has paid in full. The Fair Fund comprised of the $9.5 million paid by the Respondent has been deposited in an interest-bearing account at the U.S. Treasury, and all interest accrued will be added to the Fair Fund.

On April 15, 2021, the Commission issued an order appointing Miller Kaplan Arase LLP as the Tax Administrator of the Fair Fund. See the Commission’s Order: Release No. 34-91571.

On April 15, 2021, the Commission issued an order appointing Analytics Consulting LLC as the Fund Administrator of the Fair Fund, and set the administrator’s bond. See the Commission’s Order: Release No. 34-91572.

On September 23, 2021, 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. See the Commission’s Notice: Release No. 34-93106 and the Proposed Plan.

The Proposed Plan provides that the distribution of the Fair Fund shall be made to investors who purchased eligible securities during the relevant period and suffered a recognized loss as calculated by the methodology used in the plan of allocation in the Proposed Plan.

The Commission received no comments on the Proposed Plan.

On November 23, 2021, the Commission issued an order approving the Plan and published the Plan as approved. See the Commission’s Order: Release No. 34-93663 and the plan.

On September 18, 2023, the Commission issued an order approving the disbursement of $563,603.36 from the Fair Fund for distribution by the Fund Administrator in accordance with the Plan. See the Commission’s Order: Release No. 34-98417.

For more information, please contact the Fund Administrator:

Analytics Consulting LLC
Telephone Number: 800-907-4924
Website: www.FCAFairFund.com
Email: info@FCAFairFund.com