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Monday, June 27, 2005

GM won't let execs trade stock

General Motors (GM) has indefinitely barred most senior executives and other employees with access to internal financial information from buying or selling company stock and has taken steps to limit the disclosure of such information.

The unusual move follows the Detroit automaker's decision to suspend profit guidance to Wall Street in April amid uncertainty about the company's financial future.

The ban is intended to prevent GM insiders from inadvertently engaging in illegal insider trading based on information that is not publicly available.

GM won't let execs trade stock


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