GM Board Member Accused Of Illegal Trading

Law360, New York (October 18, 2011, 3:05 PM EDT) -- A General Motors Co. stockholder filed suit in New York federal court Thursday accusing Leucadia National Corp. CEO Ian M. Cumming of illegal short-swing trading in connection with a board appointment.

Plaintiff Donna Ann Gabriele Chechele filed the suit against Cumming, with GM listed as a nominal defendant, seeking to recover more than $200,000 she says the CEO realized in violation of federal securities laws.

According to the complaint, Chechele is a shareholder in GM and its General Motors Financial Co. Inc. unit, formerly known as...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Chechele v. Cumming et al


Case Number

1:11-cv-07227

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

George B. Daniels

Date Filed

October 13, 2011

Companies

Government Agencies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.