GM Settles SEC Charges Over Pension Accounting

Law360, New York (January 22, 2009, 12:00 AM EST) -- General Motors Corp. has settled long-running charges with the U.S. Securities and Exchange Commission that it violated proper accounting rules in disclosures over its pension plans and other multimillion-dollar transactions dating back almost a decade.

The SEC said Thursday it had filed settled charges against GM in the U.S. District Court for the District of Columbia and was awaiting court approval of its agreement with the automaker to resolve the case.

The commission said GM neither admitted nor denied the charges but consented to a final...
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