GM hit with a massive $10 billion lawsuit
General Motors just can’t catch a break. Since the American automaker began its crusade of recalls, having recalled more than 27 million vehicles this year alone, it was only a matter of time before the lawsuits started rolling in. However, the company probably wasn’t prepared to face the $10 billion lawsuit that has been filed against, the largest that it’s ever faced.
The class-action lawsuit represents everyone who purchased or leased a recalled car from July 2009 through 2015 and is either still in possession of it, sold it after mid-February when the ignition switch recalls began, or had an accident which resulted in the vehicle being totaled after February.
“New GM repeatedly proclaimed that it was a company committed to innovation, safety, and maintaining a strong brand. The value of all GM-branded vehicles has diminished as a result of the widespread publication of those defects and New GM’s corporate culture of ignoring and concealing safety defects,” says complaint filed earlier this week in US District Court in Manhattan.
Read more about the story at Bloomberg.