Stellantis files lawsuit against UAW over threats to strike [Yahoo! Finance]
Stellantis N.V. Common Shares (STLA)
Company Research
Source: Yahoo! Finance
The lawsuit, filed Thursday in the U.S. District Court Central District of California, claims that the UAW "filed sham grievances designed to justify mid-contract strikes against Stellantis that otherwise would violate [the collective bargaining agreement's] no strike clause." Stellantis claims that the union ignored the language in Letter 311, which allows the automaker to make plans for future investments with company approval and are subject to change based on consumer demand, changes in market conditions and plant performance. The automaker is seeking a court declaration that the union "acted in bad faith" and violated the bargaining agreement. "Ignoring this negotiated-for and mutually agreed-upon language in Letter 311, the UAW and its agents, including President Shawn Fain, have embarked on a sustained, multi-month campaign against the Company to force the planned investments without Company approval and regardless of business factors," read the lawsuit. This comes as
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News
- Stellantis sues UAW in US federal court over strike threats [CNN]CNN
- "Doghouse Is Back!": Stellantis CFO Instructs Staff To Take "Drastic Measures" To Conserve Cash [zero hedge]zero hedge
- Stellantis files lawsuit against UAW, claiming union does not have right to authorize mid-contract strike [CBS News]CBS News
- Stellantis sues UAW in US federal court over strike threats [CNN]CNN
- STLA Investors Have Opportunity to Lead Stellantis N.V. Securities Fraud LawsuitPR Newswire
STLA
Sec Filings
- 10/3/24 - Form 6-K
- 9/30/24 - Form 6-K
- 9/23/24 - Form 6-K
- STLA's page on the SEC website