GM Settlement Agreement
Written by Faith Anderson on May 7, 2014
GM Recall Compensation Fund a Possibility for Personal Injury, Death Cases
Victims of accidents involving recalled GM vehicles may be able to receive compensation through an injury fund set up by the auto maker.
General Motors (GM) has begun preliminary discussions regarding a potential settlement agreement that would provide financial compensation for individuals injured in car accidents involving the 2.6 million vehicles recalled by the auto maker earlier this year. The Saturn, Chevrolet and Pontiac vehicles affected by the recall are believed to have defective ignition switches that could cause the vehicles to turn off suddenly, preventing the airbags from deploying properly in the event of an accident. If you or a loved one has suffered injuries in a car accident caused by a defective auto part, such as a faulty airbag or ignition switch, contact a reputable attorney today for legal help. With a knowledgeable lawyer on your side, you can protect your legal rights and seek fair and timely reimbursement for your car accident injuries and medical expenses.
General Motors Vehicle Recall
In February, GM announced that it was recalling nearly 800,000 vehicles due to ignition switch problems, and the auto maker has since expanded the recall to include more than 2.5 million vehicles worldwide. It was after the multiple GM vehicle recalls were announced that evidence emerged suggesting that GM knew about the ignition switch and airbag problems for years without taking action to protect customers from unnecessary harm. According to a report by the Wall Street Journal, General Motors is considering setting up an injury compensation fund that would treat all claimants equally, regardless of when their car accident occurred.
Injury and Economic Loss Claims Filed Against GM
While discussions about a settlement agreement are progressing, General Motors continues to defend itself against lawsuits filed by owners of recalled vehicles, who allege that they have experienced economic damages due to a decrease in the value of their vehicles, caused by GM’s failure to warn them about the issue. According to allegations raised in both injury and economic loss claims brought against General Motors, the auto maker has known about the problem with its vehicles and actively attempted to conceal the issue by blaming car accidents on driver error. GM officials have since admitted that the company failed to act in a timely manner, and has issued an apology to customers, claiming that it wishes to compensate the families of those injured or killed in car accidents involving recalled GM vehicles.
Contact an Experienced GM Injury Attorney Today
Although GM has reported that as many as 13 deaths may have been caused by airbag and ignition switch problems, a report by the Center for Automobile Safety indicates that federal regulators have received reports of more than 300 deaths resulting from accidents involving some of the recalled GM vehicles, where airbags failed to deploy. If you have been injured in a serious car accident you believe was caused by a faulty auto part, or if you lost a loved one in such an accident, our consumer advocates at the Consumer Justice Foundation can help. We are dedicated to protecting the rights of consumers injured or killed because of defective products, and can help put you in touch with a knowledgeable lawyer who has experience handling GM injury lawsuits.