Wednesday, a federal judge in Detroit ordered General Motors’ auditor and other parties to preserve documents related to the February 2014 recall.
The Detroit News reports the parties include, auditor Deloitte & Touche, supplier Delphi, and IPO lead underwriters J.P. Morgan Securities and Morgan Stanley, as well as rental companies with affected fleet vehicles and eight Wall Street analysts.
The reason for the order from U.S. District Judge Linda Parker involves the New York State Teachers’ Retirement System pension fund, who is leading a securities fraud class-action lawsuit against GM on the claim that the “faulty ignition switches in GM vehicles caused loss to the value of their investments.” Parker said she allowed the order to maintain the status quo “until the court rules on defendants’ pending motions to dismiss.”
None of the parties have turned over said documents to those involved in the lawsuit thus far.
“Your Honor, we’ve forwarded your instruction to our new IT director, Ms. H.R. Clinton. She said she’d get back to you on it.”
You’re honor she responded to your request with: What difference does it make?
“Your Honor we’ve been informed by our compliance officer, Ms. L. Lerner, that the hard drives containing said documents were sent to the shredder after the drives failed.”
AFAIK, it has never been revealed just why GM felt it necessary to design a new ignition switch for the Cobalt update. What was wrong with the old switch? It wasn’t killing anyone.
never underestimate the reasons why gm does anything. Unless it is to payoff some supplier or business crony needing a financial hit.