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Report: GM Will Pay $900 Million Fine to Settle Federal Ignition-Switch Probe
General Motors Co. will pay a $900 million fine to defer further prosecution by the U.S. Dept. of Justice on criminal charges of defrauding consumers and hiding flaws about its defective ignition switches, sources tell Reuters. General Motors Co. will pay a $900 million fine to defer further prosecution by the U.S.
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General Motors Co. will pay a $900 million fine to defer further prosecution by the U.S. Dept. of Justice on criminal charges of defrauding consumers and hiding flaws about its defective ignition switches, sources tell Reuters.
Details about the agreement are expected to be announced on Thursday, the sources say. The settlement involves ignition switches ultimately blamed for 124 fatalities and 275 significant injuries. One Reuters source says no individuals will face criminal charges.
GM could escape further penalties by fulfilling terms of the deal, which presumably relate to how the company is handling its recall of 2.6 million cars equipped with the faulty switches.
The federal settlement won't impact the outcome of more than 200 civil lawsuits against GM concerning the switches and other recalled flaws.
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