GM To Shell Out $300M To End Ignition-Switch Securities Suit

Law360, New York (November 13, 2015, 4:57 PM EST) -- General Motors shareholders asked a federal judge Friday to approve a $300 million deal ending class claims that the carmaker's concealment of deadly ignition-switch defects eventually drove its stock price off a cliff.

The New York State Teachers' Retirement System filed papers in a Michigan federal court asking for approval of the $300 million deal, which will end a consolidated class action claiming General Motors Co.'s stock price was inflated during a period when the company concealed ignition-switch defects that the plaintiffs say killed at least...
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