General Motors has agreed to settle a claim brought by the New York State Teachers’ Retirement System for $300 million, according to court documents.
The claim alleged the teachers’ pension fund and anyone invested in GM stock between November 17, 2010 and July 24, 2014 lost millions, as a belated recall affecting millions of cars with defective ignition switches drove GM’s stock value down by more than $1 billion.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
