NEW YORK (TheStreet) -- General Motors Co. (GM) is facing new documents that show the automaker remained silent about fatal crashes tied to a defective ignition switch that is responsible for at least 13 deaths over the past 10 years, the New York Times reports.
"Now, G.M.'s response, as well as its replies to queries in other crashes," obtained by the Times from the National Highway Traffic Safety Administration, "casts doubt on how forthright the automaker was with regulators," the paper said this morning.
They [documents] provide details for the first time on the issue at the heart of a criminal investigation by the Justice Department: whether G.M., in its interaction with safety regulators, obscured a deadly defect that would also injure perhaps hundreds of people," the Times said.
Shares of GM are flat in pre-market trading.
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 multiple strengths, 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."