Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning.

Good morning. Today is Friday, August 16th. I'm Julie Morgan.

Stellantis is hit with a shareholder lawsuit.

A major change could be in Toyota's future,

and Kroger sweetens the Albertsons deal.

Shareholders of Stellantis have sued sweetens the Albertsons deal.

Shareholders of Stelantis have sued the automaker

in the United States, arguing that they have been defrauded

by the company hiding rising inventories

and other weaknesses, before posting disappointing earnings

which resulted in a decline in stock price.

Reuters reported that the complaint was filed on Thursday in Manhattan Federal Court. The report added that Stellantis

artificially inflated its stock price for much of 2024 by making

overwhelmingly positive assessments about inventories, pricing power,

new products, and operating margin.

Shareholders further noted that the truth came out on July 25th when Stelantis said first half adjusted operating income fell 40% to 9.28 billion

dollars, which was below analyst's expectations.

The company said in a statement email to Reuters that the lawsuit is without merit and the company intends to vigorously defend itself.

Thursday's lawsuit reportedly seeks unspecified damages for

Stelantis shareholders between February 15th and July 24th of this year.

Year to date, the automaker shares have plunged at 32%.

Sticking with the topic of automakers,

...