The disclosure in GM's quarterly SEC filing, marks the latest of several government investigations over the automaker's failure to fix sooner a defect that's now blamed for at least 32 crashes and 13 deaths.
GM's document said the SEC is investigating its handling of the ignition switch defect, which engineers first discovered more than a decade ago but failed to fix despite a change to the component approved in 2005.
The automaker has now recalled 2.6 million small cars mostly Chevrolet Cobalts and Saturn Ions from 2003 through 2007 model years. The ignition key can be jostled from the "on" to the "accessory" position by a driver's knee or the weight of a keychain. That, in turn, can cut power to the engine, air bags and other electrical systems.
A spokeswoman for the SEC declined to comment, saying the agency does not confirm or deny investigations. GM spokesman Jim Cain also declined to comment.
The disclosure also stated that GM is facing at least 55 lawsuits throughout the country, including challenges from shareholders accusing the automaker of securities fraud.
Government investigations include a criminal probe by the U.S. Justice Department, a regulatory investigation by the National Highway Traffic Safety Administration and inquiries by U.S. House and Senate committees.
Analysts expect GM to pay several billion dollars in fines, damages and settlements. But the company is asking U.S. Bankruptcy Court in Manhattan to uphold an immunity against "economic loss" lawsuits that was granted to it as part of its 2009 government-backed bankruptcy.
"We are investigating these matters internally and believe we are cooperating fully with all requests, notwithstanding NHTSA's recent fines for failure to respond," GM said in the SEC filing. "Such investigations could result in the imposition of damages, f! ines or civil and criminal penalties."
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Earlier today, GM CEO Mary Barra said on a conference call that the company would disclose the findings of an internal investigation being conducted by outside lawyer Anton Valukas as soon as his probe is finished.
The company has also hired disaster compensation expert Kenneth Feinberg to explore the options, including a fund to compensate victims of the ignition switch defect.
"The recall team is being thorough, progressive and proactive," Barra said. "When the facts are in, we will be transparent and we will
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