General Motors’ self-confessed failures in an internal report released last week are attracting lawyers who forged some of the biggest civil settlements ever, from the landmark tobacco litigation to the Exxon Valdez disaster to Toyota Motor Corp.'s unintended-acceleration problems, the Wall Street Journal reported today. More than 80 ignition-switch-related civil lawsuits have been filed against GM, most seeking alleged economic damages, such as repair costs and declines in resale value on about 2.6 million cars recalled since February. The average depreciation claim alone might total $500 to $1,000 per car, according to lawyers who have filed suits against GM. The company also will have to fight suits claiming the defective ignition switches caused serious injuries and deaths. (Subscription required.)
http://online.wsj.com/articles/plaintiffs-lawyers-take-aim-at-gm-for-re…
In related news, General Motors Co. announced four new recalls on Friday in keeping with a continuing initiative to review its entire vehicle portfolio in response to the ignition-switch recall scandal, the Wall Street Journal reported today. Chief Executive Mary Barra had said on Thursday more recalls were expected as the company reviews all of its vehicles for potential problems. The company recalled 57,512 of its 2014 Chevrolet Silverado and GMC Sierra pickups along with some 2015 Silverado, Tahoe, Suburban, GMC Sierra, and Yukon models since the base radio may not work, preventing audible warnings if the key is in the ignition when the driver's door is opened. (Subscription required.)
http://online.wsj.com/articles/gm-announces-four-new-recalls-1402085010…