According to the lawsuit, defendants throughout the Class Period made materially false and/or misleading statements and/or failed to disclose that:
- GM downplayed concerns with its vehicles’ airbags and the need to record additional warranty accruals for related product recalls;
- GM overstated the extent and efficacy of its efforts to analyze defects in its vehicles’ airbag inflators;
- Cruise LLC’s (“Cruise”) autonomous vehicles (“AV”) and/or AV technology were less safe and well-developed than defendants had led investors, regulators, and the general public to believe;
- accordingly, regulatory approval of Cruise’s AV products was unsustainable and the prospects for widespread regulatory approval and adoption of Cruise’s AV products were overstated;
- all the foregoing subjected GM to an increased risk of governmental and/or regulatory scrutiny and enforcement action, significant legal liabilities, product recalls, and reputational harm; and
- as a result, defendants’ public statements were materially false and/or misleading at all relevant times.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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