A federal judge in Detroit on Wednesday ordered General Motors' longtime auditor, a former supplier, two lead underwriters of the Detroit automaker's IPO, rental car companies and Wall Street analysts to preserve documents related to the Detroit automaker's ignition switch recall.
The New York State Teachers' Retirement System — a pension fund with $108 billion in assets and 426,000 covered employees and retirees — is the lead plaintiff in a suit against GM over the delayed recall of 2.6 million vehicles. The pension fund is the lead plaintiff in a securities fraud class-action lawsuit that claims the "faulty ignition switches in GM vehicles caused loss to the value of their investments."
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