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Warren Buffett buys more GM stock

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Berkshire Hathaway has purchased nearly three million shares of GM stocks during the second quarter. (Source: CNN) Berkshire Hathaway has purchased nearly three million shares of GM stocks during the second quarter. (Source: CNN)

(CNN) – Investing legend Warren Buffett’s faith in General Motors has not been shaken,

Buffett’s holding company, Berkshire Hathaway, bought nearly three million shares of GM during the second quarter, according to a regulatory filing with the Securities and Exchange Commission.

The vote of confidence from America’s leading value investor comes as GM struggles to recover from a historic recall crisis.

The car giant has recalled millions of cars for faulty ignition switches and other problems this year, and the fund it set up to compensate victims has received 63 death claims so far.

GM shares have tumbled nearly 17 percent so far this year.

While the stock rallied in the second quarter, shares plunged more than 11 percent in July.

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