SpaceX Begins IPO Preparations as Wall Street Banks Line Up for Advisory Roles 
United Airlines Tokyo-Bound Flight Returns to Dulles After Engine Failure 
SpaceX Insider Share Sale Values Company Near $800 Billion Amid IPO Speculation 
Shell M&A Chief Exits After BP Takeover Proposal Rejected 
SUPERFORTUNE Launches AI-Powered Mobile App, Expanding Beyond Web3 Into $392 Billion Metaphysics Market 
Air Force One Delivery Delayed to 2028 as Boeing Faces Rising Costs 
Coca-Cola’s Costa Coffee Sale Faces Uncertainty as Talks With TDR Capital Hit Snag 
Azul Airlines Wins Court Approval for $2 Billion Debt Restructuring and New Capital Raise 
Ford Takes $19.5 Billion Charge as EV Strategy Shifts Toward Hybrids 
FDA Says No Black Box Warning Planned for COVID-19 Vaccines Despite Safety Debate 
Intel’s Testing of China-Linked Chipmaking Tools Raises U.S. National Security Concerns 
Woolworths Faces Fresh Class Action Over Alleged Underpayments, Shares Slide 
Mizuho Raises Broadcom Price Target to $450 on Surging AI Chip Demand 
EU Signals Major Shift on 2035 Combustion Engine Ban Amid Auto Industry Pressure 
Trump Sues BBC for Defamation Over Edited Capitol Riot Speech Clip 
United Airlines Flight to Tokyo Returns to Dulles After Engine Failure During Takeoff 
Strategy Retains Nasdaq 100 Spot Amid Growing Scrutiny of Bitcoin Treasury Model 
Fiat Chrysler Automobiles pleaded guilty after reaching an agreement with the prosecutors. The Italian-American carmaker finally admits to the offenses that violated the Labor Management Relations Act on Monday, March 1.
The penalty against FCA
As per Reuters, Fiat Chrysler Automobiles admitted to the allegations it violated the Labor Management Relations Act when it colluded with company executives to make over $3.5 million in illegal payments to United Auto Workers (UAW) leaders from 2009 to 2016. The Department of Justice stated that the automaker sent lavish gifts and impaired workers’ confidence in collective bargaining.
In December last year, to resolve and end the corruption probe, the UAW agreed to admit the mistake which entangled two of UAW’s former presidents in the case. In the following month, which is January, Fiat Chrysler reached an agreement with the prosecutors to plead guilty.
As a result, U.S. District Judge Paul Borman wants the company to pay $30 million in fines after accepting its guilty plea. The final sentencing has been set for June 21.
Fiat Chrysler Automobile will also be under 3-year probation and oversight by an independent compliance monitor. This is to make sure that it will follow the federal labor laws.
People involved in the Fiat Chrysler labor probe
The scandal resulted in the charging of 15 UAW officials for their part in the corruption conspiracy. In addition, two ex-presidents of the group, Gary Jones and Dennis Williams, have pleaded guilty to misappropriation of union funds for personal benefit, and the latter will be sentenced on April 16.
The probe on Fiat Chrysler made General Motors sue its rival last year. GM accused FCA’s executives of bribing UAW officials to acquire labor agreements that placed the Detroit-based American automaker at a disadvantage. GM’s lawsuit was dismissed, and the company went to the appeals court in an effort to revive the lawsuit.
In January, General Motors stated that Fiat Chrysler Automobile finally admitted to its wrongdoings after years of denials. Meanwhile, Detroit Free Press reported that Fiat was represented by Chris Pardi, corporate secretary and general counsel for FCA-North America.
