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Deadline passes for GM compensation claims

Feb. 02, 2015 5:01 AM ETGeneral Motors Company (GM) StockGMBy: Yoel Minkoff, SA News Editor2 Comments
  • Despite a lash minute rush in claims, the cost of General Motors’ (NYSE:GM) victims-compensation fund isn’t expected to exceed the $400M-$600M the auto maker set aside to pay those killed or injured on account of its faulty ignition switches, WSJ reports.
  • GM stopped taking new claims this weekend, after receiving more than 3,350 claims (and confirming 50 deaths and 75 serious injuries so far).
  • The company also faces class-action lawsuits related to alleged safety lapses, and continuing probes by the DOJ and others.
  • Previously: GM rejects senators’ request to extend compensation claim deadline (Jan. 28 2015)

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