Pharma Investments, Ventures & Law Weekly
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Grant & Eisenhofer P.A. and Labaton & Sucharow Llp
Grant & Eisenhofer and Labaton Sucharow Announce Settlement of General Motors Securities Class Action for $303 Million
August 24th, 2008
Grant & Eisenhofer and Labaton Sucharow, co-lead counsel for the plaintiffs in a federal securities case involving General Motors Corp., have announced that a settlement has been reached whereby GM will make a cash payment of $277 million. Defendant Deloitte & Touche LLP, which served as GM's outside auditor during the period covered by the action, agreed to contribute an additional $26 million in cash -- bringing the total amount of the settlement to $303 million. The action is pending before U.S. District Judge Gerald Rosen in U.S. District Court for the Eastern District of Michigan. The case stems from claims that General Motors issued a series of...
Source: Pharma Investments, Ventures & Law Weekly (2008-08-24)
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