After years of being piled up with lawsuits from left to right regarding the leading car company in Detroit, General Motors Company (GM), they finally gained their share of victories in various cases ranging from fatal incidents to injuries.
Their alleged faulty ignition switches are the mainly the reason for the lawsuits being slapped on the company for years. Recent reports suggest that GM may be in a positive light these days after receiving back-to-back wins in court or in their undisclosed settlements against plaintiffs and complainants.
The New York Times reports that these past two years, GM has experienced its fair share of spotlight in one of the most controversial issues that the company has ever been associated with. But its most recent win was just last Friday when a dismissal was dismissed by the plaintiffs in a bellwether case, cases which are held in court for plaintiffs to receive compensation for alleged damages.
Another recent victory was in January when a dismissal was ordered by the court based on a plaintiff's misleading statements upon testifying. Furthermore, the publication also revealed that GM also won for the second time around in 2014 when the decision was made disproving that complaints against the alleged faulty ignition was the cause of the injury of two individuals.
Meanwhile, although it may seem like it is a good few months for the company, GM has however been singing checks from left to right and spending a lot of money in order to fight off the many cases placed upon them.
In fact, the news agency revealed that GM already spend a whopping $2 billion just to settle claims before they go to trial, which is of course expected to have an even more possible cash out on their end. Not only that, the news outlet also reports that GM also spend an unspecified amount which is likely amounting to billions of dollars to repair 30 million vehicles that they recalled.
To date, the share price of GM has dropped 0.2% to $29.37 as of April 8. This is seen in light of the recent settlements made by the company, the third case regarding their alleged faulty ignition switches, Zacks Equity Research reports.
Meanwhile, GM is seeing positive hopes for the on-going litigations and those which are still to come. "We have said all along that each case will be tried on its own merits and the burden is on the plaintiffs to prove they have valid claims," Patrick Morrissey, a G.M. spokesman said, as per the New York Times.
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