The Law Offices of Frank R. Cruz announces an investigation of General Motors Company (“GM” or the “Company”) (NYSE: GM) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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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, thereby further injuring investors.
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If you purchased GM securities, have information or 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 Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to email@example.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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The Law Offices of Frank R. Cruz Announces Investigation of General Motors Company (GM) on Behalf of Investors