Filed on behalf of a group of pension funds, the suit alleges that the controlling Garcia family and company directors issued millions of shares at “bargain-basement” prices in a private offering to enrich themselves.
Showrooms across the country have experienced vandalism, theft and/or closures during protests over the death of George Floyd in Minneapolis. Some dealerships took measures to protect inventory.
Police told The Toledo Blade that there were no suspects yet. Investigators were attempting to obtain surveillance footage. In an email statement, FCA said that five of six stolen trucks were recovered.
The company plans to add about 10 Hyundai Sonata self-driving vehicles to its fleet in Detroit by the end of the year.
The company, which has been reporting strong revenues but with net losses, has applied to be traded on the Nasdaq exchange under the VRM ticker symbol. The current share price target would raise between $281 million and $319 million.