Owners of General Motors cars and trucks who claimed\ntheir vehicles lost resale value because they were built using defective ignition\nswitches that lead to the deaths of at least 124 motorists since 2004 will be\neligible to receive a slice of a new $120 million settlement just reached with\nthe automaker. <\/p>\n\n\n\n
The preliminary settlement, which still requires court\napproval, resolves the last major piece of litigation related to a series\nof deaths and resulting lawsuits<\/a> from ignition switches used in GM vehicles\nthat could turn themselves off, causing the vehicles to shut down and the\nairbags to be turned off, according to a March 27 story by Reuters<\/em>. GM denied liability in the cases but agreed to settle the\nmatter, court papers revealed.<\/p>\n\n\n\n More than 2.6 million GM vehicles have been recalled\nby the automaker since 2014 over the switches, which included vehicles dating\nback more than a decade earlier. GM also had to pay more than $2.6 billion in\npenalties and settlements in the cases, including $900 million to settle a U.S.\nDepartment of Justice criminal case, the story continued.<\/p>\n\n\n\n The latest settlement is meant to specifically resolve\nclaims by GM vehicle owners who said they \u201csuffered economic losses from buying\nvehicles they thought were defect-free, only to see the ignition switch problem\nhurt GM\u2019s brand, reputation and resale values,\u201d the story reported. About $70\nmillion of the settlement will come from GM, with the other $50 million coming\nfrom a trust that was set up in connection with the Detroit-based automaker\u2019s\n2009 bankruptcy, according to Reuters<\/em>.\nGM will also pay some $34.5 million to cover legal fees and expenses of lawyers\nfor the vehicle owners.<\/p>\n\n\n\n About 216\nplaintiffs were named in the settlement, according to a March 28 report by Car & Driver<\/em> magazine. The\nsettlement for vehicle lost value, however, is much lower than what plaintiff\u2019s\nlawyers expected when the class action lawsuit was filed in 2014, the story\nreported. GM covered up the ignition-switch defect for 13 years, according\nto Car & Driver, and eventually and secretly redesigned the switch without\nchanging the part number. The original, defective switches were \u201cmanufactured\nwith torque thresholds that were low enough that the key could slip out of the\nrun position, thereby disabling the engine, power assists, and safety features\nthat included airbags,\u201d the story continued.<\/p>\n\n\n\n Legal\ncases like this one occur around the nation every day and are examples of\nsimilar kinds of car crash cases that MyPhillyLawyer<\/em> attorneys\nregularly work on tirelessly for our own clients. Often, we are not able to\ndiscuss the cases we are actively working on due to confidentiality\nrequirements, so we discuss other relevant cases in the news such as this one\nto illustrate the legal situations people find themselves in every day.<\/p>\n\n\n\n When you\nneed a car accident injury attorney<\/a>, we here at MyPhillyLawyer<\/em> stand\nready to assist you with your legal case if you or a loved one is ever\nseriously injured in any kind of car crash, slip and fall, pedestrian\ninjury, workplace injury or wrongful death in Philadelphia or anywhere in the\nUnited States. We pledge to make sure that you and your family get the\ncompassionate, dogged and experienced legal representation that you deserve and\nexpect from a professional legal team which works hard to uncover every fact to\nbolster your case and maximize your damage award.<\/p>\n\n\n\n We\nrepresent the families of victims who die in such tragedies as well, to ensure\nthat their families receive every penny of damages that they are eligible to\nreceive.<\/p>\n\n\n\n Talk to a\nPhiladelphia car crash attorney at MyPhillyLawyer<\/em><\/a> by calling 215-227-2727 or toll-free\nat 1-866-907-2231 anytime and our experienced, compassionate,\naggressive team of attorneys and support staff will be there for you and your\nfamily every step of the way as we manage your case through the legal system.<\/p>\n\n\n\n