Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against General Motors Company (“General Motors” or the “Company”) (NYSE: GM) on behalf of General Motors stockholders. Our investigation concerns whether General Motors has violated the federal securities laws and/or engaged in other unlawful business practices.
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On August 4, 2021, GM announced that its second quarter 2021 financial results were negatively impacted by “warranty recall costs” of $1.3 billion, including approximately $800 million related to the Chevrolet Bolt EV.
On this news, GM’s share price fell $5.16, or 8.9%, to close at $52.72 per share on August 4, 2021, thereby injuring investors.
Then, on Friday, August 20, 2021, GM announced that it was “voluntarily expanding the current Chevrolet Bolt EV recall to cover the remaining 2019 and all 2020-2022 model year vehicles, including the Bolt EUV” because the batteries may have two manufacturing defects that “increase the risk of fire.”
On this news, GM’s share price fell during intraday trading on Monday, August 23, 2021, to close at $48.18.
If you purchased or otherwise acquired General Motors shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210825005868/en/
Contacts
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
