Federal prosecutors today announced a $900 million fine against General Motors and said they have ruled out criminal charges against some -- but not all -- of the 15 GM employees fired in connection with last year’s ignition-switch recall.
The deal answers one of the biggest remaining questions about GM’s liability in the wake of the defect, at a cost less than many analysts were expecting. Hundreds of lawsuits remain outstanding.
The Justice Department charged GM with scheming to conceal a deadly defect and wire fraud but agreed to drop the case in three years if the automaker complies with an independent monitor who will be hired to oversee its safety practices until then. GM admitted it failed to disclose the defect, which is tied to at least 124 deaths and was known to employees at various levels of the company more than a decade ago.
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