General Motors has agreed to pay $900 million as a settlement for misleading the government and concealing information from investigators on defective ignition switches that have been connected to at least 124 deaths.
GM will be monitored for its safety practices over the next few years. GM’s CEO Mary Barra reportedly had 15 executives of the company removed, too, according to Reuters. In 2014, the company created a fund to hand out payments to victims’ families. Shares of GM GM 0.59% rose sharply following the news.
G.M. to Pay U.S. $900 Million Over Ignition Switch Flaw