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FCA: says GM lawsuit 'without merit'

(CercleFinance.com) - Fiat Chrysler Automobiles said has that it sees no merit in a lawsuit filed by GM, saying that the claims are nothing more than a meritless attempt to divert attention from the company's challenges.

"FCA is confident that it will prevail in defending itself against these claims in court and will also pursue all available remedies in response to this groundless lawsuit," the Italo-American carmaker said in a statement.

According to media reports, GM has filed the lawsuit, alleging that FCA bribed United Auto Workers (UAW) union members to get an advantageous position.

The move comes as FCA is negotiating a new agreement with UAW.

FCA noted that the lawsuit also comes in the wake of its planned merger with France's PSA, "which completed the successful turnaround of the European businesses it acquired not long ago from General Motors," the company pointed out.

The FCA share is currently down 2.7% in Milan.

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