Boston, MA 06/09/2014 (wallstreetpr) – The internal investigation report written by the former United States attorney Anton R. Valukas, released on June 5, 2014 condemned General Motors Company (NYSE:GM) for its failure to fix the fatal safety defect since past 10 years. The safety defect, in the past, led to fatal consequences which included 13 deaths as well.
Consequences of the Report
The report head out dismissing 15 employees of General Motors Company (NYSE:GM), which include a Vice President for Regulatory Affairs along with the Senior Lawyer, who was accountable for product liability cases. The report, in the meanwhile, also forced the company to undertake changes, in a way, the company handles its vehicle safety.
In the report, it is illustrated how the GM employees neglected the defect for years. The report recalled how thousands of lives were put at a peril despite a lot of evidences of the defect.
Words of Anton R. Valukas
In the report, Anton R. Valukas wrote that though everyone was responsible for fixing the problem of the defect, yet nobody took upon the responsibility. The report is compiled after three months of investigation and during the examination; it included review of various interviews with around 230 people as well as documents.
Words from the Chief Executive of GM
The Chief Executive of General Motors Company (NYSE:GM), Mary T. Barra said that the report was extremely troubling and that it was enormously painful for the employees who dedicated their lives to GM. It is important to note that in the report, Mary T. Barra and the top officers were not found liable of a deliberate cover-up of the defect. Mary T. Barra also said that the company has dismissed 15 employees after the release of the report and five other employees have been disciplined.
GM, since February 2014, has recalled 2.6 million Chevrolet Cobalts as well as other small hatchback models in order to rectify the defect, which is associated with 54 accidents and 13 deaths.
