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Fly News Breaks for April 25, 2017
GM
Apr 25, 2017 | 07:59 EDT
JPMorgan analyst Ryan Brinkman views the Supreme Court's decision to not hear and review General Motors' appeal regarding an earlier decision by a lower court to allow liability lawsuits to proceed against the company for deaths, injuries and economic value losses associated with vehicles sold prior to its bankruptcy in 2009 as an "incremental negative." The judgement significantly reduces the likelihood of a quick resolution of the pending lawsuits, but does not materially change the likelihood of GM having to pay further liabilities, Brinkman tells investors in a research note. He believes the news is a not a "game changer" for GM. The analyst keeps an Overweight rating on the shares with a $48 price target.