GM blasts $1 bln deal between ignition switch plaintiffs, creditor trust

Newswire

By Brendan Pierson Aug 11 (Reuters) - Plaintiffs suing General Motors Co over faulty ignition switches and other alleged vehicle defects have reached a $1 billion settlement requiring the automaker to turn over that amount of stock, a lawyer for the plaintiffs said in a court hearing on Friday. GM lawyer Richard Godfrey strongly criticized the agreement, telling U.S. District Judge Jesse Furman in Manhattan the Detroit-based company was given no say in the deal ...

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