General Motors Corporation : General Motors Acceptance Corporation SmartNotes

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General Motors Corporation : General Motors Acceptance Corporation SmartNotes Conclusion: On October 20, 2008 the District Court entered the June 26, 2008 Amended Judgment and Mandate from the U.S. Court of Appeals for the Sixth Circuit. The judgment of the District Court dismissing the plaintiffs’ complaint is affirmed.

On July 28, 2006, plaintiffs filed a Consolidated Amended Complaint, which mainly differed from the initial complaint in that it asserted claims for GMAC debt securities purchased during a different time period (July 28, 2003 through November 9, 2005), and added additional underwriter defendants. On August 28, 2006 the underwriter defendants were voluntarily dismissed without prejudice. On September 25, 2006, the GM and GMAC defendants filed a motion to dismiss the amended complaint. On February 27, 2007 Judge Edmunds entered an order granting with prejudice the defendants' September 2006 motion to dismiss the case. One month later, on March 27, plaintiffs filed a notice of appeal.

As summarize by the Company’s Form 10-K for the fiscal year ended December 31, 2005, on December 28, 2005, J&R Marketing, SEP, filed a purported class action, J&R Marketing, et al. v. General Motors Corporation, et al. The action was filed in the Circuit Court for Wayne County, Michigan, against GM, GMAC, Eric Feldstein, William F. Muir, Linda K. Zukauckas, Richard J.S. Clout, John E. Gibson, W. Allen Reed, Walter G. Borst, John M. Devine, Gary L. Cowger, G. Richard Wagoner, Jr. and several underwriters of GMAC debt securities.

This class action is similar to the original complaint, Zielezienski, et al. v. General Motors, et al., filed on November 29, 2005, in filed in the Circuit Court for Palm Beach County, Florida. On January 6, 2006, defendants named in the original complaint removed this case to the U.S. District Court for the Southern District of Florida. On February 6, 2006, plaintiff filed a motion to remand the case to Florida state court, which is currently being briefed by the parties. On March 28, 2006, the parties submitted a proposed stipulated order withdrawing plaintiff’s motion to remand and transferring the case to the United States District Court for the Eastern District of Michigan. If this order is entered, the parties have agreed to seek to have this case consolidated with the J&R Marketing and Mager cases described below.

Similar to the Zielezienski case, the complaint filed by J&R Marketing, SEP, alleges claims under Sections 11, 12(a), and 15 of the Securities Act based on alleged material misrepresentations or omissions in the registration statements for GMAC SmartNotes purchased between September 30, 2003 and March 16, 2005, inclusive. The complaint alleges inadequate disclosure of GM’s financial condition and performance as well as issues arising from GMAC’s 2005 restatement of quarterly results for the three quarters ended September 30, 2005. The complaint does not specify the amount of damages sought and defendants have no means to estimate damages the plaintiffs will seek based upon the limited information available in the complaint. Defendants have not yet filed their response to the complaint, but intend to vigorously defend this action. On January 13, 2006, defendants removed this case to the U.S. District Court for the Eastern District of Michigan.

Further, according to the same SEC filing, on February 17, 2006, Alex Mager filed a purported class action, Mager v. General Motors Corporation, et al. The action was filed in the U.S. District Court for the Eastern District of Michigan and is substantively identical to the J&R Marketing case described above. Defendants have not yet filed their response to the complaint, but intend to vigorously defend this action. On February 24, 2006, J&R Marketing filed a motion to consolidate the Mager case with its case (discussed above) and for appointment as lead plaintiff and the appointment of lead counsel. On March 8, 2006, the court entered an order consolidating the two cases.

INDUSTRY CLASSIFICATION:
SIC Code: 3711
Sector: Consumer Cyclical
Industry: Auto & Truck Manufacturers

COMPANY/ISSUER NAME:	General Motors Corporation
COMPANY/ISSUER TICKER:	GM
COMPANY WEBSITE:	http://www.gm.com

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

J&R Marketing, SEP, et al. v. General Motors Corporation, et al.

COURT: E.D. Michigan	DOCKET NUMBER: 06-CV-10201
JUDGE NAME: Hon. Nancy G. Edmunds
DATE FILED: 01/13/2006	SOURCE: Notice of Filing
CLASS PERIOD START: 07/28/2003	CLASS PERIOD END: 11/09/2005
TYPE OF COMPLAINT: Complaint (Unamended and Unconsolidated)
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Faruqi & Faruqi LLP (New York) 320 East 39th Street, New York, NY, 10016 (voice) 212.983.9330, (fax) 212.983.9331, Nfaruqi@faruqilaw.com The Weiser Law Firm, P.C. 121 N. Wayne, Ave, Suite 100, Wayne, , (voice) 610.667.7706, (fax) , rw@weiserlawfirm.com Wasinger Kickham and Hanley 100 Beacon Centre, 26862 Woodward Avenue, Royal Oak, MI, 48067-0958 (voice) (248) 414-9900, (fax) , _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 3

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Notice of Removal
Type: Notice		Date on the document: 01/13/2006
Order Consolidating Case No. 06-10727 With Case No. 06-10201
Type: Order of Consolidation		Date on the document: 03/08/2006
Order Consolidating J&R Marketing And Zieliznski Cases, Granting Motion For Appointment Of Lead Plaintiffs And For Approval Of Lead Plaintiffs' Selection Of Lead Counsel And Liaison Counsel
Type: Order of Consolidation		Date on the document: 05/25/2006

REFERENCE COMPLAINT

J&R Marketing, SEP, et al. v. General Motors Corporation, et al.

COURT: E.D. Michigan	DOCKET NUMBER: 06-CV-10201
JUDGE NAME: Hon. Nancy G. Edmunds
DATE FILED: 07/28/2006	SOURCE: Docket
CLASS PERIOD START: 07/28/2003	CLASS PERIOD END: 11/09/2005
TYPE OF COMPLAINT: Consolidated Complaint
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Faruqi & Faruqi LLP (New York) 320 East 39th Street, New York, NY, 10016 (voice) 212.983.9330, (fax) 212.983.9331, Nfaruqi@faruqilaw.com Jacob A. Goldberg, Esq. LLC P.O. Box 30132, Elkins Park, PA, 19027 (voice) 215.782.8235, (fax) , The Weiser Law Firm, P.C. 121 N. Wayne, Ave, Suite 100, Wayne, , (voice) 610.667.7706, (fax) , rw@weiserlawfirm.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 3

DOCUMENTS FOR THE REFERENCE COMPLAINT
Consolidated and Amended Complaint for Violations of the Securities Act of 1933
Type: Complaint		Date on the document: 07/28/2006
Notice Of Voluntary Dismissal Without Prejudice
Type: Notice		Date on the document: 08/28/2006
Judgment
Type: Order		Date on the document: 2/27/2007
Order Granting Defendants Motion To Dismiss
Type: Order		Date on the document: 2/27/2007
Notice Of Appeal
Type: Notice		Date on the document: 3/27/2007
Mandate
Type: Other		Date on the document: 10/17/2008
U.S. District Court Civil Docket
Type: Docket		Date on the document: 10/17/2008

OTHER DOCUMENTS
U.S. District Court Civil Docket
Case Name and/or Number: Alex Mager, et al. v. General Motors Corporation, et al.
Type: Docket		Date on the document: 03/08/2006
U.S. District Court Civil Docket
Case Name and/or Number: Zielezienski, et al. v. General Motors Corporation, et al.
Type: Docket		Date on the document: 05/25/2006
Amended Judgment from the U.S. Court of Appeals for the Sixth Circuit
Case Name and/or Number: J&R Marketing, SEP, et al. v. General Motors Corporation, et al.
Type: Other		Date on the document: 06/26/2008
Amended Opinion from the U.S. Court of Appeals for the Sixth Circuit
Case Name and/or Number: J&R Marketing, SEP, et al. v. General Motors Corporation, et al.
Type: Other		Date on the document: 06/26/2008
US Court of Appeals Docket
Case Name and/or Number: J&R Marketing, SEP, et al. v. General Motors Corporation, et al.
Type: Docket		Date on the document: 10/17/2008

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