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GM Reveals That It Faces A Number Of Investigations
William Maley posted an article in General Motors
In a securities filing today, General Motors revealed that it is currently under five different government investigations into its handling over the ignition switch recall. The five investigations include ones from U.S. Attorney’s Office for the southern district of New York, Congress, NHTSA, the SEC, and a unnamed state attorney general. “We are also the subject of various inquiries, investigations, subpoenas and requests for information from the U.S. Attorney’s Office for the southern district of New York, Congress, NHTSA, the SEC, and a state attorney general in connection with our recent recall. We are investigating these matters internally and believe we are cooperating fully with all requests, notwithstanding NHTSA’s recent fines for failure to respond. Such investigations could in the future result in the imposition of damages, fines or civil and criminal penalties," said GM in its filing. GM also revealed in its filling that it currently is facing faces 55 lawsuits in the United States and 5 lawsuits in Canada over the ignition switch. Source: The Detroit News, Reuters -
In a securities filing today, General Motors revealed that it is currently under five different government investigations into its handling over the ignition switch recall. The five investigations include ones from U.S. Attorney’s Office for the southern district of New York, Congress, NHTSA, the SEC, and a unnamed state attorney general. “We are also the subject of various inquiries, investigations, subpoenas and requests for information from the U.S. Attorney’s Office for the southern district of New York, Congress, NHTSA, the SEC, and a state attorney general in connection with our recent recall. We are investigating these matters internally and believe we are cooperating fully with all requests, notwithstanding NHTSA’s recent fines for failure to respond. Such investigations could in the future result in the imposition of damages, fines or civil and criminal penalties," said GM in its filing. GM also revealed in its filling that it currently is facing faces 55 lawsuits in the United States and 5 lawsuits in Canada over the ignition switch. Source: The Detroit News, Reuters View full article
