A Missouri pension fund sued General Motors Co.
, its board of directors and its CEO over the handling of a recall of 2.6 million vehicles for ignition switch defects, contending it contributed to the sharp decline in the automaker's stock price.
The Police Retirement System of St. Louis sued in U.S. District Court in Detroit on Wednesday, accusing the executives of conspiring to "deceive the investing public." GM has repeatedly denied that its senior executives knew anything about the problem and exposed the company to liability. It accuses the GM officers and directors of being "reckless" or "grossly negligent."Read Article