GM Facing Lawsuits Of Up To $10 Billion Due To Ignition Switch Defect

General Motors Co. said it is facing 79 lawsuits by customers demanding as much as $10 billion for the lost value of their old cars as a result of defects that led to a 2.59 million-vehicle recall.

Twenty new would-be group suits have been filed since early this month, the Detroit-based automaker said in a filing in U.S. Bankruptcy Court in Manhattan on Monday.

GM has asked a judge to rule that it isn’t liable for damage claims resulting from the company’s actions before its 2009 bankruptcy. A panel of judges is due to decide this month whether to combine the suits into one, and what federal court should handle them.

MrEE - 5/20/2014 6:54:55 PM

+1 Boost

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MattDarringer - 5/20/2014 8:09:05 PM

+1 Boost

Declare bankruptcy and it goes away