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The
judge's ruling on Monday said that the shareholders have not
shown any proof that the company's directors acted in bad faith
and dismissed the case.
The shareholders alleged that the directors breached their
duties by failing to oversee the operations of the company.
The news comes a month after a U.S. bankruptcy judge put on hold
dozens of lawsuits accusing the company of concealing an
ignition-switch defect while the plaintiffs in those cases
appeal an earlier ruling that found their cases were barred.
There are three other shareholder derivative actions, one in
Wayne County, Michigan and two in Federal District Court for the
Eastern District of Michigan that have been put on hold pending
the outcome in Delaware.
GM said it was pleased the Delaware court dismissed the
complaint and hopes the other pending cases are also dismissed,
the company said in a statement.
GM shares closed down 3 percent at $33.23 on the New York Stock
Exchange on Monday.
(Reporting by Rosmi Shaji in Bengaluru; Editing by Lisa
Shumaker)
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