Fiat Chrysler (FCAU) shares fell the most in more than four months Thursday as the heat from emissions probes on both sides of the Atlantic intensified, extending losses for a third consecutive session.
The slump follow reports that the U.S. Department of Justice is preparing a civil suit against the carmaker following a probe that was opened in January related to excess diesel emissions. The group was accused by the U.S. Environmental Protection Agency and latterly, the DoJ, of failing to disclose engine management software in its vehicles, including Jeep Cherokees and Dodge Ram trucks, which could result in an emissions output that was too high.
Investigators also said at the time that they would look at whether or not the software in Fiat-Chrysler vehicles constitutes a defeat device.
This article was written by a staff member of TheStreet.