Class action lawsuit against Stellantis

[Eighty]

Just heard about this on the news. Something about Stellantis misleading investors.

Stockholder Alert: Robbins LLP Informs Stellantis N.V. Stockholders of the Class Action Filed Against STLA

Robbins LLP is Investigating Allegations that Stellantis N.V. (STLA) Misled Investors Regarding its Business Prospects ...

www.globenewswire.com

 

[nc_beagle]

The lawyers will be the only winners.

 

[Snekpete]

If you own individual stocks you know that this is very common and usually meaningless. As stated, it's just an income stream for lawyers.

 

[Pikeman_66]

If you own individual stocks you know that this is very common and usually meaningless. As stated, it's just an income stream for lawyers.

Yep, nothing of substance comes down to shareholders. The lawyers eat up the largest share of any recovered money.

 

[azzx]

Agreed - only the scum of the earth will benefit from such lawsuits.
And Zero $ to the folks who bought the products with many defects.

 

[HSKR R/T]

If you own individual stocks you know that this is very common and usually meaningless. As stated, it's just an income stream for lawyers.

I own Stellantis stocks. They were doing good earlier in years but have crapped out the last few months with the ****ty earnings reports and stale inventory

 

[Snekpete]

I own Stellantis stocks. They were doing good earlier in years but have crapped out the last few months with the ****ty earnings reports and stale inventory

I generally stay away from Automobile manufacturers and Airlines. I have a friend who bought Ford in the 1990s, didn't make a penny in 30 years. Banks like BAC are another volatile asset. You have to get in and get out. For younger folks I recommend Index ETFs, buy and hold. Maybe a few individual stocks IF you're paying attention. Most folks just have some mutual funds in 401Ks. Only put in to a 401K what your employer will match. 401Ks turn into IRAs at retirement and it is very difficult to get money out of an IRA without a big tax hit. Roth IRAs are great, but they have severe limits on what you can put in, but no tax on any gains (or losses).

 

[Eighty]

I generally stay away from Automobile manufacturers and Airlines. I have a friend who bought Ford in the 1990s, didn't make a penny in 30 years. Banks like BAC are another volatile asset. You have to get in and get out. For younger folks I recommend Index EFTs, buy and hold. Maybe a few individual stocks IF you're paying attention. Most folks just have some mutual funds in 401Ks. Only put in to a 401K what your employer will match. 401Ks turn into IRAs at retirement and it is very difficult to get money out of an IRA without a big tax hit. Roth IRAs are great, but they have severe limits on what you can put in, but no tax on any gains (or losses).

Do some research on "back door Roth IRA".

 

[Snekpete]

Do some research on "back door Roth IRA".

What is a backdoor Roth IRA?​

A backdoor Roth IRA is a conversion that allows high earners to open a Roth IRA despite IRS-imposed income limits.
Basically, you put money you’ve already paid taxes on in a traditional IRA, then convert your contributed money into a Roth IRA, and you’re done. Even though you didn’t qualify to contribute to a Roth, you get to go in the back door anyway, no matter what your income.
That's good news because your money grows tax-free — and that's a pretty sweet perk when it comes time to take your money out in retirement.

Been there, done that. I have been transferring the max, $7,500 a year, from my IRA to a Roth IRA for years now. It's slow but sure. My brother converted a substantial IRA into a Roth back in 2009 or 10? when the limit was removed due to the financial crisis. I do not believe that a full conversion is allowed now.