DETROIT (Reuters) - General Motors Corp. said on Wednesday it has been subpoenaed by the U.S. Securities and Exchange Commission as part of a probe into accounting practices and other matters, dealing the latest blow to the automaker.
GM said the subpoenas relate to its financial reporting for pension and other post-employment benefits, and transactions between the company and auto parts supplier Delphi Corp..
They also relate to the SEC's interest in GM's recovery of various costs from suppliers and supplier price credits, and any obligations to fund pension and post-employment benefits costs related to Delphi's Chapter 11 bankruptcy proceedings, the company said in a statement.
It said SEC and federal grand jury subpoenas had also been served on entities linked to its finance arm, General Motors Acceptance Corp., in connection with insurance industry probes into products that may help companies smooth earnings.
http://today.reuters.com/news/newsarticle.aspx?type=topNews&storyid=2005-10-26T235311Z_01_SIB684078_RTRUKOC_0_US-AUTOS-GM-SUBPOENAS.xml
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