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GM Settles Nearly 1,400 Civil Lawsuits Involving Defective Ignition Switches
General Motors Co. has agreed to pay $575 million to settle almost 1,400 civil lawsuits covering death and injury claims stemming from the company's defective ignition switches.
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General Motors Co. has agreed to pay $575 million to settle almost 1,400 civil lawsuits covering death and injury claims stemming from the company's defective ignition switches.
GM continues to face an estimated 84 death and 370 injury claims. Also unresolved are lawsuits by GM customers claiming they are entitled to as much as $10 billion to cover lost resale value of their vehicles. The latter lawsuits address the aftermath of the ignition switch recall and 83 other campaigns involving more than 24 million GM vehicles in the U.S.
Legal experts tell Bloomberg News GM isn't likely to settle all the remaining cases before trial. That means the company remains at risk for high-profile and costly lawsuits and continuing bad publicity about its recall record.
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