NEW YORK, March 12, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of General Motors Company ("General Motors" or the "Company")(NYSE: GM). Investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 237.
The investigation concerns whether General Motors and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On Tuesday, March 11, 2014, a report published in the USA TODAY stated that, "The U.S. attorney's office in New York has opened a criminal probe into the circumstances surrounding the General Motors ignition switch recall, according to reports on Tuesday by Reuters and the Associated Press," citing sources who asked not to be identified because the investigation was not yet public.
Federal prosecutors will examine, according to the reports, whether GM is criminally liable in the timing and handling of the switch problems that led to the recall last month of 1.37 million cars in the U.S.On this news, shares of General Motors fell $1.91 per share to $35.18, or more than 5.15%, on March 11, 2014. The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com. CONTACT: Robert S. Willoughby Pomerantz LLP email@example.com SOURCE Pomerantz LLP