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Posted: Friday, 21 March 2014 5:00PM

Investor Files Class Action Lawsuit Against GM Over Recalls

A class action lawsuit is pending against General Motors. The "Detroit News" reports s shareholder filed the suit Friday in Detroit, saying stockholders have been defrauded by the automaker's failure to disclose ignition switch problems earlier. GM stock fell 10% last week and wiped out roughly $5 billion in shareholder value. The suit also names CEO Mary Barra, former CEO Dan Akerson and other top officials. The automaker's stock fell another 1% Friday. GM is not commenting on the lawsuit.


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