Class-action verdict sees GM pay out over 100 million dollars — via drivingdotca autonews GM
– was filed in 2016, and claimed that internal documents from GM show the company was in 2010 made aware of the defect in its generation-IV Vortec 5300 LC9 engine, but over the next four years made only poor, ineffective fixes to the problem while it continued the manufacture of new engines through to the end of the powerplant design’s life in 2014.
That verdict of US$102.6 million may not be all that much, relatively speaking, when you consider GM has a market cap of nearly US$50 billion. With the class action lawsuit representing 38,000 members, the amount works out to each claimant receiving US$2,700. Factor in time spent at the dealership and the hassle of an avoidable issue, and we’re sure some of those owners feel the compensation seems like a pittance.
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