April 18, 2014
/PRNewswire/ -- Pomerantz LLP announces the filing of a class action lawsuit against General Motors Company ("GM" or the "Company")(NYSE: GM) and certain of its officers. The class action, filed in United States District Court, Eastern District of
, and docketed under 14-cv-11191 is on behalf of a class consisting of all persons or entities who purchased or otherwise acquired securities of GM between
November 17, 2010
March 21, 2014
, both dates inclusive (the "Class Period"). This class action seeks to recover damages against the Company and certain of its officers and directors as a result of alleged violations of the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
If you are a shareholder who purchased GM securities during the Class Period, you have until
May 20, 2014
, to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at
. To discuss this action, contact
Robert S. Willoughby
or 888.476.6529 (or 888.4-POMLAW), toll free, x237. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and number of shares purchased.
GM is one of the nation's oldest and largest car manufacturers. With a dealership network that spans the globe and over 200,000 employees, the Company plays a major role in
the United States
and international automobile market.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) GM was in breach of applicable industry and government regulations and policies concerning passenger and automotive safety; (2) the Company was subject to criminal and civil litigation and potentially devastating harm to its reputation and future revenues; (3) over three million GM cars contained defects subjecting drivers, passengers and others to devastating, and at times fatal, injuries; (4) the Company lacked adequate internal controls; (5) despite defendants' knowing of such potential harm to drivers and passengers, as early as 2001, the Company refused to recall such vehicles for a quick and inexpensive fix to the cars' ignition switches, leading to at least twelve reported deaths and countless injuries; and, (6) as a result of the foregoing, the Company's statements were materially false and misleading at all relevant times.