PR Newswire
Important Information Regarding Section 20(a) Individual Liability Claims
NEW YORK, May 21, 2026 /PRNewswire/ — SueWallSt alerts investors in Stellantis N.V. (NYSE: STLA) of a pending securities class action naming four senior officers as individual defendants.
Class Period: February 26, 2025 through February 5, 2026
Find out if you qualify to recover losses
or contact Joseph E. Levi, Esq. at [email protected] | (888) SueWallSt.
Stellantis shares fell $2.26 per share, a 23.69% single-day decline, after the Company disclosed €22 billion in charges and a shortfall against guided adjusted operating income benchmarks on February 6, 2026. The Court has set June 8, 2026 as the deadline to apply for lead plaintiff appointment.
The Named Individual Defendants
The complaint identifies four Stellantis officers as individual defendants under Section 20(a) of the Securities Exchange Act of 1934, which imposes liability on persons who “controlled” the entity that violated the securities laws:
- John Jacob Philip Elkann — Executive Chairman of the Board throughout the Class Period. As the pleading asserts, Elkann directed Stellantis’ strategic messaging on electrification growth and the Company’s ability to achieve guided earnings benchmarks.
- Douglas R. Ostermann — Chief Financial Officer until September 29, 2025. As averred, Ostermann publicly projected that North American margins would reach “mid- to high single-digit range” in the back half of 2025 and oversaw the AOI guidance framework.
- Antonio Filosa — Chief Operating Officer of North American Brands and Chief Quality Officer, later appointed Chief Executive Officer effective June 23, 2025. The complaint charges that Filosa assumed expanding operational control during the period when the Company’s business model required a fundamental reset.
- Joao Laranjo — Appointed Chief Financial Officer following Ostermann’s September 29, 2025 departure, responsible for subsequent financial disclosures through the end of the Class Period.
Section 20(a) Control Person Framework
Section 20(a) provides that every person who directly or indirectly controlled any person liable under the Exchange Act is jointly and severally liable. The action contends each Individual Defendant possessed the power and authority to control the contents of Stellantis’ SEC filings, press releases, and presentations to analysts and institutional investors. Each was provided copies of the Company’s public reports prior to issuance and had the ability to prevent their release or cause corrections.
Sarbanes-Oxley Certification Obligations
The complaint further alleges that individual defendants who served as CEO and CFO signed Sarbanes-Oxley certifications under Sections 302 and 906, personally attesting that:
- The Company’s periodic reports did not contain untrue statements of material fact
- Financial statements fairly presented the Company’s financial condition
- Disclosure controls and procedures were effective
- Any material changes in internal controls were disclosed
The action asserts these certifications were made while defendants knew or should have known that Stellantis was not positioned to achieve its guided AOI benchmarks and that the Company’s electrification strategy would require billions in restructuring charges.
“Corporate officers have a duty to ensure their companies’ public statements are accurate and complete. When officers certify financial disclosures under Sarbanes-Oxley, they accept personal responsibility for the truthfulness of those statements.” — Joseph E. Levi, Esq.
Scienter Allegations
As averred, the Individual Defendants had access to material non-public information about deteriorating operational performance, the insufficiency of BEV demand projections, and the scale of restructuring that would ultimately be required. The pleading asserts they knew that positive representations about Stellantis’ earnings trajectory were materially false or misleading when made.
Speak with an attorney about recovering your Stellantis investment losses
or call (888) SueWallSt.
SueWallSt — Top 50 securities litigation firm (ISS, seven consecutive years). Over 70 professionals. Hundreds of millions recovered.
Frequently Asked Questions About the STLA Lawsuit
Q: Who are the defendants named in the STLA lawsuit? A: The complaint names Stellantis N.V. and individual defendants including Executive Chairman John Jacob Philip Elkann, former CFO Douglas R. Ostermann, CEO Antonio Filosa, and CFO Joao Laranjo, all of whom signed SEC filings or made public statements during the Class Period.
Q: Who is eligible to join the STLA investor lawsuit? A: Investors who purchased STLA stock between February 26, 2025 and February 5, 2026 and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses, not on whether you still hold the shares.
Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.
Q: What does it cost me to participate? A: Nothing. Securities class actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.
Q: What if I already sold my STLA shares — can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold them. Investors who bought during the class period and sold at a loss may still participate.
Q: How long will the lawsuit take to resolve? A: Securities class actions typically take two to four years from initial filing to resolution.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
Tel: (888) SueWallSt
Fax: (212) 363-7171
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SOURCE SueWallSt.com
