AUBURN HILLS (WKZO) -- Fiat could be facing fines if it is determined that CEO Sergio Marchionne broke the rules.
According to the U.S. Securities and Exchange Commission, executives of companies preparing an IPO are not allowed to talk about the company's finances while the SEC is conducting its review. In September, Chrysler filed paperwork for an initial public offering. Last week, Marchionne spoke at an investor conference in London.
A partial statement from the company in the "Detroit Free Press" reads, "Fiat S.p.A./Chrysler Group strongly denies that Sergio Marchionne... made comments regarding Chrysler that were attributed to him in a report issued earlier this week. The report characterizes Mr. Marchionne's presentation inaccurately."