Fund manager sues GM for 'misstating' revenues

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Swedish fund manager Folksam Asset Management has brought a class action lawsuit against General Motors, General Motors Acceptance Corp and many of its top management for misleading investors on the strength of its financial status. The action in the US District Court for the Southern District of New York revolves around the claim that GM misstated revenues for the period of spring 2002 to March 2005.

In addition, US law firm Milberg Weiss Bershad & Schulman asserts that "during the fourth qu

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