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NEW YORK, NY / ACCESSWIRE / December 20, 2023 / If you have incurred a loss on your investment in General Motors Company (NYSE: GM) and would like to receive more information about a potential recovery under the federal securities laws, please follow the link below for more information:
or call Joseph E. Levi, Esq. by email at jlevi@levikorsinsky. com or call (212) 363-7500 to speak with our experienced shareholder advocates.
THE LAWSUIT: A securities protection lawsuit has been filed against General Motors Company seeking losses from shareholders who were harmed by alleged securities fraud between Feb. 2, 2022, and Oct. 26, 2023.
CASE DETAILS: The lawsuit filed alleges that the defendants made false statements and/or concealed what: (1) GM downplayed considerations about its vehicles’ airbags and desire to register additional warranty provisions for recalls of similar products; (ii) GM overestimated the scope and effectiveness of its efforts to analyze defects in its vehicles’ airbag inflators; (iii) Cruise’s AV systems and/or AV generation were less secure and less evolved than the defendants had led investors, regulators, and the general public to believe; (iv) as a result, regulatory approval of Cruise’s audiovisual products was untenable and customers for widespread regulatory approval and adoption of Cruise’s audiovisual products were overblown; (v) all of the foregoing has subjected GM to an increased threat of governmental and/or regulatory scrutiny and enforcement actions, significant legal liabilities, product recalls, and reputational damage; and (vi) as a result, the defendant’s public statements were materially false and/or misleading at all applicable times.
WHAT’S NEXT? If you incurred a loss on General Motors inventory at the relevant time, even if you still hold your inventories, go to https://www. zlk. com/pslra-1/general-motors-company-information-request-form?prid =60939
WHY LEVI
SOURCE: Levi & Korsinsky, LLP