Secured $303 million recovery for investors in GM securities and derivative litigation
Plaintiff(s):
Institutional investors (international clients appointed co-lead plaintiffs)
Case type / claims:
Federal securities class action and derivative claims alleging misleading financial statements and auditor misconduct dating back to 2000
Defendant(s):
General Motors Corp.; Deloitte & Touche LLP
Jurisdiction:
U.S. District Court for the Eastern District of Michigan
Year:
2008
Outcome:
- Achieved a combined $303 million settlement – $277 million from GM and $26 million from Deloitte.
- Ranked among the largest shareholder recoveries of 2008.
