Defendant Name: General Motors Company

Defendant Type: Public Company

Document Reference: 2017-19

Document Details

Legal Case Name In the Matter of General Motors Company
Document Name General Motors Charged With Accounting Control Failures
Document Date 18-Jan-2017
Document Format Administrative Proceeding
File Number 3-17797
AAER 3850
Allegation Type Issuer Reporting and Disclosure
Document Summary On January 18, 2017, the SEC announced that General Motors has agreed to pay a penalty to settle charges. According to the SEC: "the company's internal investigation involving the defective ignition switch wasn't brought to the attention of its accountants until November 2013 even though other General Motors personnel understood in the spring of 2012 that there was a safety issue at hand. Therefore, during at least an 18-month period, accountants at General Motors did not properly evaluate the likelihood of a recall occurring or the potential losses resulting from a recall of cars with the defective ignition switch."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order

Related Documents:

34-79825 18-Jan-2017 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
On January 18, 2017 the SEC instituted a settled proceeding against General Motors. According to the SEC: "the company's internal investigation involving the defective ignition switch wasn't brought to the attention of its accountants until November 2013 even though other General Motors personnel understood in the spring of 2012 that there was a safety issue at hand. Therefore, during at least an 18-month period, accountants at General Motors did not properly evaluate the likelihood of a recall occurring or the potential losses resulting from a recall of cars with the defective ignition switch."