Allegations that GM misled investors.
If given final approval, this will be the final major litigation regarding the faulty switches.
GM will pay out $120 million to plaintiffs.
There was a lack of evidence tying the crash to the ignition switch.
It’s difficult to prove the value of vehicles that featured the faulty ignition switch, making a jury decision hard.
A major culture shift.
The suit claimed vehicles lost value following the ignition switch recall.
The judge said GM has compiled a deferred prosecution agreement.
For the first time, case numbers have dropped below 1,000.
Which is shy of the automaker’s goal to fix 100 percent of vehicles still on the road.
GM last faced the potential for handing out adjustment stock last January.
Arizona’s settlement will see funds go directly to consumers.
It’s a victory for GM, which would have given up $1 billion in stock to settle economic loss, personal injury and wrongful death claims.
Car owners and a trust reached the deal in August, but the trust walked away from it days later.
General Motors allegedly concealed various vehicle defects and sold its cars as “safe” in the state.
General Motors has reached a $120-million settlement with 49 states and DC over claims relating to its faulty ignition switches.
A trust that holds GM liabilities prior to its 2009 bankruptcy cancelled the settlement in a blow to plaintiffs.
The latest settlement comes after a federal judge allowed lawsuits directed towards “Old GM” to proceed.
230 cases remain pending and surround the fix to the faulty ignition switch found in 2.6 million vehicles.
However, details surrounding the settlements are confidential.
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