An Italian appeals court has handed two former Fiat advisers suspended jail sentences and fines for misleading the market in a 2005 stock transaction that secured the Agnelli family's control of the car maker.
Thursday's decision by Turin judges overturned a 2010 verdict by a lower court that had found the two advisers, lawyer Franzo Grande Stevens and former Agnelli family holding company executive Gianluigi Gabetti, not guilty.
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Both men, who protested their innocence, were ordered to pay a fine of 600,000 euros ($793,300) each and were sentenced to 1 year and 4 months in jail, although the sentences were suspended meaning that neither of them will spend time in jail.
(Reporting by Jennifer Clark and Gianni Montani; Editing by Mark Potter)