NEW YORK (TheStreet) -- General Motors Co. (GM) customers who sued the car company over fallen car prices might have a stronger case if they could prove company executives defrauded the court about a faulty ignition switch when testifying during its 2009 bankruptcy, says U.S. Bankruptcy Judge Robert Gerber, Bloomberg reports.
The judge commented that if the then CEO Fritz Henderson "knew about the switch problem and intended to keep it from me, that might constitute fraud on the court."
Shares of General Motors are up 0.35% to $37.72.
TheStreet Ratings team rates GENERAL MOTORS CO as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate GENERAL MOTORS CO (GM) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
Highlights from the analysis by TheStreet Ratings Team goes as follows: