16:54:49 EDT Tue 23 Apr 2024
Enter Symbol
or Name
USA
CA



General Motors Company
Symbol GMM
Shares Issued 1,510,679,832
Close 2017-05-25 U$ 32.42
Market Cap U$ 48,976,240,153
Recent Sedar Documents

Globe/wire say GM accused of rigging emissions tests

2017-05-26 06:38 ET - In the News

The Globe and Mail reports in its Friday edition that General Motors was accused in a lawsuit on Thursday of rigging hundreds of thousands of diesel trucks with devices similar to those used by Volkswagen, to ensure they pass emissions tests. A Reuters dispatch to The Globe reports that the proposed class-action lawsuit covers people who own or lease more than 705,000 Chevrolet Silverado and GMC Sierra pickups fitted with "Duramax" engines from the 2011 to 2016 model years. It said GM used at least three "defeat devices" to ensure that the trucks met federal and state emission standards. The suit was filed in the federal court in Detroit. GM spokesman Dan Flores says, "These claims are baseless and we will vigorously defend ourselves." He says GM trucks comply with U.S. Environmental Protection Agency emissions standards and California's own tough emissions standards. The lawsuit alleges violations of racketeering and consumer protection laws, and seeks remedies including possible refunds, restitution for lost resale value, and punitive damages. "Negative publicity" from the lawsuit could steer prospective buyers to Ford Motor or FCA's Ram division, says RBC analyst Joseph Spak.

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