The Environmental Protection Agency says Fiat Chrysler cheated on emissions tests for some their diesel cars and now their stocks are crashing.
EPA officials say Fiat Chrysler did not tell federal officials about software they used to cheat on emissions tests that led to excess emissions of nitrogen oxides from the cars. Officials say the car makers' actions violate the Clean Air Act.
The EPA says the findings on Fiat Chrysler stem from their investigation into Volkswagen for doing the same thing.
Investor's Business Daily News reports Fiat Chrysler's shares, which were at an all-time high, plummeted after the announcement.