Seeking Alpha

GM facing hefty ignition switch lawsuit

  • GM (NYSE:GM) is now facing a lawsuit which was filed in a Manhattan federal court by 658 people who state they were injured or relate to a victim killed in an accident due to a faulty ignition switch.
  • Since the beginning of the year, GM recalled nearly 15M vehicles worldwide over the defective switches and set up a program to compensate victims of crashes.
  • The newly filed lawsuit is aimed at covering claims that are not eligible for payments under the conditions of the program.
Comments (16)
  • NLTInvestor
    , contributor
    Comments (316) | Send Message
     
    YES! finally pulling back from all the hyped up GM growth in it. hope to see this at 30-33 and then going to pile in.
    30 Jul, 03:03 AM Reply Like
  • capitolp
    , contributor
    Comments (673) | Send Message
     
    Well, hopefully a few more deaths will get that Buy Order filled.
    30 Jul, 03:20 AM Reply Like
  • NLTInvestor
    , contributor
    Comments (316) | Send Message
     
    well thats a morbid statement. i was just pissed that the stock didn't drop down with all these deaths and bad news. wall street was giving this company a pass which is annoying
    30 Jul, 03:44 AM Reply Like
  • capitolp
    , contributor
    Comments (673) | Send Message
     
    Morbid, I'm sorry, I must of misunderstood the part of you wanting a pullback in a company facing a lawsuit to compensate victims so you could "pile in". Listen, don't take it the wrong way, but if you work on the kill floor, expect to get bloody.
    30 Jul, 04:48 AM Reply Like
  • chopchop0
    , contributor
    Comments (3314) | Send Message
     
    Foolish. Gm has done and continues to do irreparable harm to its brand. You can't put a price on that type of loss. It will affect the business going forward

     

    Remember, gm hasn't exactly been the harbinger of quality the last few decades
    30 Jul, 06:44 AM Reply Like
  • lemm
    , contributor
    Comments (375) | Send Message
     
    You don't invest in the last few decades, you invest for now ,and the future.
    30 Jul, 08:31 AM Reply Like
  • chopchop0
    , contributor
    Comments (3314) | Send Message
     
    "You don't invest in the last few decades, you invest for now ,and the future."

     

    Now and in the future, GM will have to deal with its past.
    30 Jul, 08:36 AM Reply Like
  • funfun
    , contributor
    Comments (2455) | Send Message
     
    For months, the dishonest Management of GM and their PR con artists have been broadcasting a fake death count of only "13 deaths". Litigation and evidence adduced in court should pierce this PR propaganda and reveal the continuation of a cynical and callous cover-up on the part of the ethically crippled executives of this corrupt motorcar company.

     

    The serial misfiring and misconduct of GM Management does not augur well for hapless GM shareholders.

     

    …funfun...
    30 Jul, 05:25 AM Reply Like
  • Budavar
    , contributor
    Comments (1387) | Send Message
     
    Re-itarate.

     

    GM is a highly speculative stock = hardly an investment,
    unless its an investment in gambling.
    30 Jul, 08:01 AM Reply Like
  • Momintn
    , contributor
    Comments (3941) | Send Message
     
    Keep in mind that bears on this website don't move the stocks.
    30 Jul, 08:54 AM Reply Like
  • Capt Jack Daniels
    , contributor
    Comments (1058) | Send Message
     
    Gm stock is moving, in a generally downward pattern.

     

    Sorry if the truth is troubling.

     

    Management will still get paid, the auto workers will still get paid, meanwhile stock holders will see their supposed equity pay for it all.
    30 Jul, 09:57 AM Reply Like
  • grantcvst
    , contributor
    Comments (35) | Send Message
     
    Speculative? Pretty sure GM pays a nice divvy.
    30 Jul, 08:47 PM Reply Like
  • Capt Jack Daniels
    , contributor
    Comments (1058) | Send Message
     
    Actually the Gm dividend is paltry and not worth the risk associating with the vast underperformance of GM to the market.

     

    While the SP has performed well since the reintroduction of the new GM stock, the new GM stock has gone no where and is even below the first days open trade.

     

    Only a fool would invest in GM stock.
    30 Jul, 11:11 PM Reply Like
  • NLTInvestor
    , contributor
    Comments (316) | Send Message
     
    you mean warren buffet? lol… this is like BAC, BP, financials. current company getting punished for past management. they're classic value plays. a little bad that we're near market top to invest though..
    30 Jul, 11:58 PM Reply Like
  • chopchop0
    , contributor
    Comments (3314) | Send Message
     
    Buffett also invested in newspapers.... not sure I'd call them winners either.
    31 Jul, 12:20 AM Reply Like
  • NLTInvestor
    , contributor
    Comments (316) | Send Message
     
    look at NWSA and NEWM. not doing horribly…
    31 Jul, 12:45 AM Reply Like
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