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New York, New York—(Newsfile Corp. - August 27, 2021) - Levi & Korsinsky notifies investors that it has commenced an investigation of General Motors Company ("GM" or the "Company") (NYSE: GM) concerning possible violations of federal securities laws.
On July 14, 2021, the National Highway Traffic Safety Administration (NHTSA) urged the owners of Chevrolet Bolt vehicles produced between 2017 and 2019 to park outside and away from homes due to risk of fire.
A little over a week later, GM notified the public that "it is issuing a new recall for nearly 69,000 Chevrolet Bolt electric vehicles (EVs) worldwide for fire risks after reports of two new fires." The Bolt EVs had already been recalled in November 2020 for fire risks, but according to GM's release "at least one of the two new fires was in a vehicle that had already had the software update released as part of the recall."
Following the recall, on August 4, 2021, GM disclosed its Q2 2021 financial results, with EBIT-adjusted of $4.1B, including $1.3B warranty recall cost, of which $0.8B was related to the Chevrolet Bolt EV. That day, the value of GM stock dropped nearly 9%. To obtain additional information, go to:
or contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500.
WHY LEVI & KORSINSKY: Levi & Korsinsky have a proven track record of winning cases worth hundreds of millions of dollars for shareholders over a 20-year period. We represent and fight for shareholders who have been wronged by corporations.
Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington, D.C. The Firm's Founding Partners, Joseph Levi and Eduard Korsinsky, have been representing shareholders and institutional clients for almost 20 years and have achieved remarkable results for clients in the U.S. and internationally. The firm, with more than 80 employees, is committed to fostering, cultivating and preserving a culture of diversity, equity and inclusion for employees and those that we represent. Our attorneys have extensive expertise representing investors in securities litigation with a track record of recovering hundreds of millions of dollars in cases. Levi & Korsinsky was ranked in Institutional Shareholder Services' ("ISS") SCAS Top 50 Report for 7 years in a row as a top securities litigation firm in the United States. The SCAS Top 50 Report identifies the top plaintiffs' securities law firms in the country, and year after year, ISS has recognized Levi & Korsinsky as a leading firm in the area of securities class action litigation.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/94713