GM Recalls Devalue All Cars, $10B Class Action Says

Law360, New York (June 18, 2014, 1:17 PM EDT) -- General Motors Co.’s reputation has been so badly damaged by its recent onslaught of recalls that even vehicles not included in the recalls have depreciated in value, according to a consumer class action filed Wednesday seeking more than $10 billion on behalf of all GM vehicle owners.

The suit alleges GM misled consumers into purchasing or leasing their cars as they were marketed as safe and reliable, when in fact the company was actually intentionally concealing known defects and valuing cost-cutting over safety, eventually leading all...
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