An investigation for investors in Ferrari N.V. (NYSE:RACE) shares over potential securities laws violations by Ferrari N.V. was announced and NYSE:RACE stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/12/2018 -- An investigation was announced for investors in NYSE:RACE shares concerning possible violations of securities laws by Ferrari N.V. and certain of its directors and officers.
Investors who purchased shares of Ferrari N.V. (NYSE:RACE), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Ferrari N.V. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Ferrari NV reported that its annual Total Revenue rose from over EUR 2.33 billion in 2013 to over EUR 2.76 billion in 2014 and that its Net Income increased from 240.77 million EUR to 260.37 million EUR.
On February 28, 2018, it was reported that "Ferrari says it will stop rolling back odometers on fancy pre-owned cars." According to the article, Ferrari North America notified dealers it would "no longer provide access codes that for years allowed an app called DEIS tester to make miles driven vanish from dashboards of Spiders, Californias and 488 GTBs." The article further provides that a Ferrari internal memo stated the "odometer 'reset to zero' functionality was being removed," as were instructions provided to technicians in Ferrari Workshop Manuals on how to roll back miles.
Shares of Ferrari N.V. (NYSE:RACE) declined from $130.48 per share on February 26, 2018 to $118.60 per share on March 2, 2018.
Those who purchased shares of Ferrari N.V. (NYSE:RACE) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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