TRENDING NOW - GM To Announce Victim Compensation Plan


Published 06/30 2014 06:56AM

Updated 06/30 2014 06:58AM

It is certainly a long-awaited announcement today. Today we expect to find out from WM who is eligible for compensation and how much they'll receive.

At issue: that some GM employees knew about the ignition switch problem back in 2004 but a recall wasn't announced until February of this year.

The problem can cause cars to shut off while driving, disabling the airbag and power steering. GM estimates that thirteen deaths can be tied to the faulty switch in millions of recalled cars.

The total payout is expected to be announced by GM today and could cost the company billions of dollars. It is also expected to announce who is eligible for the compensation. it's being offered as an alternative to victims or their families suing GM.

The ignition switch problem was one of the more high-profile recalls but GM has seen more than 20-million of its cars recalled this year for different problems.

Copyright 2015 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Featured Coupon


Featured Business