General Motors Co. car owners will still seek $7.5 billion for the diminished value of recalled vehicles, despite a ruling that largely freed the automaker from liability for wrongdoing before its 2009 bankruptcy, Bloomberg News reported today. That number was supplied by a lawyer for car owners the day after Bankruptcy Judge Robert Gerber upheld GM’s shield against claims tied to actions taken before its bailout. The attorney, Steve Berman, said that 10 million is a conservative estimate of the number of drivers still eligible to sue for about $750 each after Wednesday’s decision. The litigation stems from last year’s recall of cars for faulty ignition switches, which grew to cover GM vehicles for a number of flaws. The owners can pursue “claims for economic loss caused by New GM’s misconduct in covering up the ignition switch defects and scores of other known defects,” plus damages, Berman said. GM escaped billions more in liability because Judge Gerber also ruled that the company can’t be sued for economic losses tied to so-called Old GM’s actions or over accidents that happened before the bailout. http://www.bloomberg.com/news/articles/2015-04-17/gm-car-owners-to-fight-on-for-billions-after-bankruptcy-ruling
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