Huffpost Politics

GM Recall Is Being Probed By The DOJ, SEC

Posted: Updated:
The key of a 2005 Chevrolet Cobalt is photographed in Alexandria, Va., Tuesday, April 1, 2014. General Motors CEO Mary Barra testified on Capitol Hill Tuesday about safety defects and mishandled recall of 2.6 million small cars with a faulty ignition switch that's been linked to 13 deaths and dozen of crashes. (AP Photo/Molly Riley | ASSOCIATED PRESS

DETROIT (AP) — U.S. securities regulators are looking into General Motors' delayed recall of more than 2 million cars with a deadly ignition switch problem.

GM disclosed in a quarterly report that the Securities and Exchange Commission has made inquiries about the recall. It also confirmed that the U.S. Attorney's office in New York and an unidentified state attorney general are conducting investigations.

The SEC likely is probing whether GM failed to disclose the switch problem to investors. GM is recalling 2.6 million older small cars because the switches can unexpectedly slip out of the "run" position. That can shut down the engine, knock out the power-assisted steering and brakes and disable the air bags. Drivers can lose control of their cars and crash.

GM says 13 deaths are linked to the problem.