GM agrees to $5.75 million settlement with Calif. over ignition switches


WASHINGTON — General Motors agreed to a $5.75 million settlement to resolve allegations it made false statements to California’s largest pension system and other investors over its deadly ignition switch scandal.

California Attorney General Xavier Becerra said the largest U.S. automaker concealed problems from investors related to faulty ignition switches linked to 124 deaths and 275 injuries.

GM previously paid $900 million to settle a U.S. Justice Department criminal investigation and $1 million to resolve a U.S. Securities and Exchange Commission accounting case tied to the ignition switch issue.

GM said it was “pleased to have cooperated with the state of California to resolve this matter.”

Products You May Like

Articles You May Like

Volkswagen Takes Fresh Swing at Tesla With “Project Trinity”
2021 Jeep Grand Cherokee L Pricing Betrays a Well-Equipped Three-Row SUV
UK ‘very hopeful’ for Vauxhall factory’s future as investment decision looms
How Subaru survived and thrived after 2011 quake
2005-2008 Dodge Magnum History: Mopar’s Wonderful Muscle Wagon

Leave a Reply

Your email address will not be published. Required fields are marked *