Law Offices of Howard G. Smith announces that a class action lawsuit has been filed in the United States District Court for the Eastern District of Michigan on behalf of all purchasers of the securities of General Motors Company (“GM” or the “Company”) (NYSE:GM) between November 17, 2010 and March 21, 2014, inclusive (the “Class Period”).
GM designs, manufactures and markets cars, crossovers, trucks and automobile parts worldwide, primarily under the Buick, Cadillac, Chevrolet, GMC, Opel, Holden and Vauxhall brand names. The Complaint alleges that during the Class Period defendants made false and/or misleading statements or failed to disclose that the Company was in breach of applicable industry and government regulations and policies concerning passenger and automotive safety, that more than three million GM cars contained serious safety defects, and that although the Company knew of the potential harm to drivers and passengers as early as 2001, the Company refused to recall the vehicles for a quick and inexpensive fix to their ignition switches.
On February 7, 2014, GM notified the National Highway Traffic Safety Administration of the Company’s decision to recall 2005-2007 Chevrolet Cobalt and 2007 Pontiac G5 vehicles due to defects in the manufacturing of their key ignition switches, and later expanded the recall to include more than 1.6 million vehicles in the 2003-2007 Saturn Ion, 2006-2007 Chevrolet HHR and Pontiac Solstice, and 2007 Saturn Sky models.
If you are a member of the Class described above, you have until May 20, 2014, to move the Court to serve as lead plaintiff, if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.