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General Motors faces huge fine over 'criminal' ignition defects – reports
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US justice department investigators have identified criminal wrongdoing in General Motors’ failure to disclose a defective ignition switch, and they are negotiating what is expected to be a record penalty.
This could be because it launched early, our rights have expired, there was a legal issue, or for another reason.
Citing people briefed on the inquiry, the New York Times reported that a settlement could be reached as soon as this summer.
The final number is still being negotiated but it is expected to exceed the $1.2bn paid last year by Toyota for concealing unintended acceleration problems, according to the newspaper.
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The ignition switch issue has been linked to 84 deaths and 157 serious injuries.
In April, a bankruptcy court ruled that GM would not have to face dozens of lawsuits over the issue because it was protected from claims on vehicles pre-dating its 2009 exit from Chapter 11 bankruptcy.
Chief executive Mary Barra admitted in an internal report in 2014 that a “pattern of incompetence” had caused the fatal delay.