San Diego, CA -- (SBWIRE) -- 07/16/2012 -- An investor in NYSE:GM shares filed a lawsuit in the U.S. District Court for the Southern District of New York against General Motors Company over alleged violations of Federal Securities Laws in connection with the company’s November 18, 2010 Initial Public Offering.

Investors who purchased the common stock of General Motors Company (NYSE:GM) pursuant and/or traceable to the Company’s November 18, 2010 Initial Public Offering, have certain options and there are strict and short deadlines running. Deadline: September 10, 2012. NYSE:GM investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased the common stock of General Motors Company (NYSE:GM) pursuant and/or traceable to the Company’s November 18, 2010 Initial Public Offering (the “IPO”), that General Motors Company and certain of its current and former officers and directors and several underwriting investment banks violated the Securities Act of 1933. Specifically, the plaintiff alleges that the Registration Statement and Prospectus issued by GM in connection with the IPO were false and misleading.

The plaintiff says that in connection with the IPO, and in order to assuage concerns that General Motors Company was predicting revenue based on production rather than actual sales, General Motors Company allegedly falsely assured investors that it was actively managing its production by monitoring its dealer inventory levels.

General Motors Company (NYSE:GM) reported that its annual Revenue rose from $104.58billion in 2009 to $150.27billion in 2011 and its Net Income increased from $6.17billion in 2010 to $9.19billion in 2011.

However, in July 2011, reports began to surface that General Motors Company had engaged in an inventory build-up. The plaintiff says that on July 1, 2011, General Motors Company admitted on an investor conference call that it had substantially exceeded inventory targets.

Shares of General Motors Company (NYSE:GM) fell from almost $39 per share in January 2011 to as low as $20.27 per share in the end of December 2011.

On July 13, 2012, NYSE:GM shares closed at $19.62 per share.

Those who purchased the common stock of General Motors Company (NYSE:GM) pursuant and/or traceable to the Company’s November 18, 2010 Initial Public Offering, have certain options and there are strict and short deadlines running. Deadline: September 10, 2012. NYSE:GM investors should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Jacob Rosenfeld
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com