Fiat Chrysler falls after GM alleges UAW bribes in new lawsuit

General Motors (GM) filed a lawsuit today in U.S. District Court in Detroit alleging Fiat Chrysler (FCAU) got an unfair business advantage by bribing officials of the United Auto Workers union, Tom Krisher of Associated Press reports. GM says Fiat was involved in racketeering by paying millions in bribes to get concessions and gain advantages in three labor agreements with the union, reports Krisher, citing the lawsuit. The suit alleges that Fiat corrupted the bargaining process with the UAW in the 2009, 2011 and 2015 union contracts to gain advantages over GM. Shares of Fiat Chrysler are down 2.5% to $15.20 following the AP's report while GM is down 2% to $35.56. Reference Link