How Will GM (GM) Stock React As Georgia Court Rejects Bid To Throw Out Ignition Suit?

NEW YORK (TheStreet) -- General Motors Co. (GM) was unable to convince a Georgia judge to dismiss a lawsuit over the death of a 29- year-old woman that helped trigger the recall of 2.59 million cars over faulty ignition switches, Bloomberg reports.

Cobb County State Court Judge Kathryn Tanksley rejected GM’s motion to dismiss the revived lawsuit at a hearing today in Marietta, Ga., and set a trial date for April 2016.

The lawsuit, brought by the parents of Brooke Melton, who died in a 2010 crash of a Chevy Cobalt, was settled in September 2013. The Meltons filed a new complaint in May, claiming General Motors fraudulently had concealed defects in the Cobalt and withheld evidence before the accord was reached, Bloomberg said.

Shares of General Motors are sightly higher in pre-market trade.

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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 and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."

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