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Share Name | Share Symbol | Market | Type |
---|---|---|---|
General Motors Company | NYSE:GM | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.19 | 0.43% | 44.86 | 45.545 | 44.505 | 45.03 | 10,046,012 | 01:00:00 |
The death toll related to the faulty General Motors Co. (GM) ignition switch rose by four to 49 people Monday after the compensation fund approved more claims last week.
The fund, supervised by Washington, D.C., attorney Kenneth Feinberg, is accepting claims from anyone injured in connection with an ignition-switch-related accident. The fund has received 2,818 claims thus far and determined that 49 were eligible deceased claims and 72 were confirmed serious injury claims.
Mr. Feinberg is still sorting through 857 claims that are now classified as under review and working with another 763 claims submitted without documentation.
The Detroit-based auto maker established the fund in August to compensate any driver, passenger, pedestrian or occupants of another vehicle who were killed or injured due to an accident linked to the faulty ignition switch.
GM installed the switches in 2.8 million vehicles but waited more than a decade to recall them. A jarring of or too much weight on the ignition key can push the switch from "run" to "accessory," cutting power to the air bags, steering and brakes. GM originally said it knew of only 13 deaths but later backed away from that figure, saying it would let Mr. Feinberg determine the final amount.
Those payouts are accepted on a voluntary basis, but those who accept must waive their right to sue the company. The auto maker is facing multiple lawsuits and investigations into its handling of the issue.
Write to Jeff Bennett at jeff.bennett@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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