Five of GM’s Faulty Ignition Switch Settlement Offers Refused
Of the 109 settlement offers extended to victims of accidents related to General Motors’ faulty ignition switch, five of them have been rejected. By accepting a settlement offer, victims give up their rights to file a lawsuit against GM and potentially receive a larger payout from their injuries from the court—so it appears more suits could be coming for the automaker. Settlement offers range from $20,000 to upwards of $5 million, depending on the case. Kenneth Feinberg, the attorney hired by GM to administer the victim compensation fund, said, “The amount of money being offered depends on a number of factors including the severity of injuries, the victim’s age and how their potential future earnings were impacted by being injured or killed in a recalled GM vehicle.” So far, another 52 claimants approved for compensation of the over 4,000 applications filed with the compensation fund are waiting on the official terms of their settlement offers.