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GM, Deloitte & Touche Settle Shareholder Class Action

Plaintiffs in a class-action suit against GM and its outside auditor Deloitte & Touche have reached a settlement of $303 million. Of that GM wil pay $277 million and Deloitte & Touche $26 million.

The lawsuit was brought by GM shareholders who alleged that GM had issued a series of false and misleading statements to investors regarding its financial status, as far back as 2000.

AUG-08-08: GM, Deloitte, to Pay Combined $303M to Settle Securities Class Action [WALL STREET JOURNAL: DELOITTE, GM TO PAY $303 MILLION ]

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