NEW YORK--(EON: Enhanced Online News)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of General Motors Company (NYSE: GM) resulting from allegations that General Motors may have issued materially misleading business information to the investing public.
“[i]nvestigators found the U.S. company had instructed distributors to fix prices starting in 2014.”
On December 14, 2016, Reuters published an article stating that according to the official China Daily newspaper, a senior state planning official said that “China will soon slap a penalty on an unnamed U.S. automaker for monopolistic behavior” and that Zhang Handong, the director of the National Development and Reform Commission’s price supervision bureau, stated that “[i]nvestigators found the U.S. company had instructed distributors to fix prices starting in 2014.” On that same day, Bloomberg published an article stating that “General Motors Co.’s joint venture in China with SAIC Motor Corp. is being investigated by the government for possible anti-trust violations, according to people familiar with the matter” and that “[s]ome dealerships in the SAIC-GM network were investigated over retail pricing practices.” On this news, shares of General Motors fell during intraday trading on December 14, 2016.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by General Motors investors. If you purchased shares of General Motors please visit the firm’s website at http://www.rosenlegal.com/cases-1011.html for more information. You may also contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at email@example.com or firstname.lastname@example.org.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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