The Plot Thickens at GM With SEC Subpoenas

Updated from 11:24 a.m. EDT

The Securities and Exchange Commission is investigating General Motors'(GM Quote) handling of retirement benefits and its relationship with bankrupt parts supplier Delphi(DPHIQ Quote), the automaker said in a government filing.

GM, which posted a $1.3 billion third-quarter loss last week because of spiraling labor costs, confirmed it has received a subpoena from the agency and is cooperating with the probe.

"These matters include GM's financial reporting concerning pension and other post-employment benefits, certain transactions between General Motors and Delphi, GM's recovery of recall costs from suppliers and supplier price reductions or credits, and any obligation GM may have to fund pension and OPEB costs in connection with Delphi's proceedings under Chapter 11," the company in an SEC filing. ...