Stellantis' legal battle with transmission supplier heads to federal court [Yahoo! Finance]
Stellantis N.V. Common Shares (STLA)
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Source: Yahoo! Finance
Stellantis and MacLean-Goff Component Solutions, a Chicago-based automotive supplier of transmission gear and pinions, are now fighting in federal court in regard to a dispute over costs by the two companies. According to court documents, MacLean-Goff told Stellantis on March 5 it would stop shipping parts after March 19 unless Stellantis agreed to pay the supplier an approximately 26% increase above its contract prices retroactive to Jan. 1, 2024. MacLean-Goff followed through, halting shipments after the tow companies failed to resolve the issue after “multiple rounds of communications.” The transmission gears and pinions are “crucial,” according to Stellantis, to the auto manufacturer's operations at the Kokomo Transmission Plant and Indiana Transmission Plant. The plants make transmissions for the Dodge Ram 1500, Charger and Durango; Jeep Wrangler and Grand Cherokee; Chrysler Pacifica; and other vehicles. The auto company said in court filings it would take 18-24 months f
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News
- Stellantis files lawsuit against UAW over threats to strike [Yahoo! Finance]Yahoo! Finance
- 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
- STLA Investors Have Opportunity to Lead Stellantis N.V. Securities Fraud LawsuitPR Newswire
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- 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