Robert Snell, Ian Thibodeau and Daniel Howes The Detroit News Published 6:00 AM EDT Jun 19, 2019 Detroit — Fiat Chrysler Automobiles NV is negotiating a settlement that would resolve a federal criminal investigation into whether executives conspired to pay bribes and break labor laws during a years-long conspiracy with the United Auto Workers, according to a federal regulatory filing. The negotiations are focused on Fiat Chrysler submitting to government oversight for up to five years, paying less than $50 million in penalties and agreeing to make broad institutional changes to emerge from a bribery scandal that has led to eight convictions, including former FCA Vice President Alphons Iacobelli, two sources familiar with negotiations said. Negotiations continue, and one sticking point is whether Fiat Chrysler agrees to admit guilt, one source said. Fiat Chrysler revealed the settlement negotiations in a May 3 filing with the Securities and Exchange Commission, a disclosure to shareholders of information that could affect financial performance and share prices. They are customarily required for publicly traded companies. “We continue to cooperate with this investigation and are in discussions with the DOJ about a potential resolution of its investigation,” Fiat Chrysler Chief Financial Officer Richard Palmer wrote in the filing. “The outcome of those… Read full this story
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