GM Announces Resolution of Certain Civil Litigation

DETROIT -- Sept. 17, 2015; General Motors Co. announced today it has settled certain civil actions against the company related to 2014 product recalls, including the ignition switch recall.

The first settlement resolves a shareholder class action filed in the United States District Court for the Eastern District of Michigan. In addition, the company has reached a memorandum of understanding potentially covering approximately 1,380 individual death and personal injury claimants. They include more than half of the personal injury plaintiffs who have lawsuits pending in the Multi-District Litigation (MDL) in the United States District Court for the Southern District of New York.

“The parties to these agreements have resolved difficult claims without the burden, expense and uncertainty of litigation,” said Craig Glidden, GM executive vice president and general counsel.

As a result of these settlements, the company will record a charge of $575 million in the third quarter.